Takeda Pharmaceutical Co. Ltd. (TAK) said Tuesday a jury in the U.S. District Court for the District of Massachusetts returned a verdict against the company in the AMITIZA or lubiprostone antitrust litigation.
The jury awarded plaintiffs about $884.9 million in single damages related to claims tied to a 2014 patent settlement agreement involving generic versions of the drug.
The company said damages awarded to the wholesaler class and individual retailers are subject to automatic trebling under U.S. antitrust law upon entry of judgment.
The damages awarded to the end payor class remain subject to further court proceedings before final judgment is entered.
The company said it will vigorously pursue post-trial motions and an appeal, adding that it believes evidentiary and legal errors were made during the trial.
The litigation relates to allegations that a 2014 settlement agreement between Takeda, Sucampo Pharmaceuticals, Inc., and Par Pharmaceutical, Inc. regarding generic versions of AMITIZA was anticompetitive.
The company said the agreement allowed Par to launch an authorized generic product in January 2021.
The company said the launch date was more than six years before relevant patents were set to expire.
The company said it is assessing the amount of a provision to be recognized in its full-year 2025 consolidated financial statements related to the matter and plans to revise and re-file its full-year 2025 earnings report and other financial materials once the assessment is completed.
The company said the matter will not impact full-year 2025 core financial results and does not expect a material impact on full-year 2026 financial forecast or management guidance, except potentially adjusted free cash flow depending on the amount and timing of any payment.
On Monday, Takeda Pharma closed trading 0.24%, 0.04 cents lesser at $16.57 on the New York Stock Exchange. In the overnight, the stock traded 0.54% higher at $16.66, 0.09 cents.
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