TOKYO (AP) - Japan's largest drugmaker Takeda Pharmaceutical Co. has agreed to pay $2.4 billion to thousands of patients and their families over its diabetes drug Actos which has been linked to cancer.

TOKYO (AP) Japan's largest drugmaker Takeda Pharmaceutical Co. has agreed to pay $2.4 billion to thousands of patients and their families over its diabetes drug Actos which has been linked to cancer.

Takeda faces 9,000 product liability lawsuits in the U.S., in which the plaintiffs say the company failed to inform them of the drug's cancer risks. Takeda does not admit liability.

The company said Wednesday that the settlement would resolve most of the lawsuits.

Takeda said it would set aside $2.7 billion against earnings in the January-March quarter to cover the settlement and related costs.

It would cause the company a group net loss of 145 billion yen ($1.2 billion) for the business year ended March 31, sending it into the red for the first time since its 1949 listing.