Through a bankruptcy filing of its subsidiary company, J&J will be able to resolve about 99.75% of the pending talc lawsuits against the company and its affiliates in the U.S.
Johnson & Johnson on Wednesday proposed a plan to pay nearly $6.5 billion to resolve tens of thousands of lawsuits claiming that its cosmetic talc-based powder causes cancer. Through a bankruptcy filing of its subsidiary company, LTL Management, J&J will be able to resolve about 99.75% of the pending talc lawsuits against the company and its affiliates in the U.S.
The company has maintained that its baby powder and other talc products don't cause cancer or contain asbestos, "The company reiterates that none of the talc-related claims against it have merit. The claims are premised on the allegations that have been rejected by independent experts, as well as governmental and regulatory bodies, for decades," J&J said Wednesday.
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