J&J advances $6.48 billion settlement of talc cancer lawsuits

Bottles of Johnson's baby powder are displayed in a store in New York City, U.S., January 22, 2019. REUTERS/Brendan McDermid/File Photosaid on Wednesday it is moving forward with a $6.48 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ovarian cancer.

Courts have rebuffed J&J's two previous efforts to resolve the lawsuits through the bankruptcy of the subsidiary created to absorb the company's talc liability, LTL Management. "The claimants get to vote, and that's the major difference here," Haas said in a Wednesday call with investors. Mike Papantonio, an attorney opposed to the deal, said J&J has been "covertly soliciting law firms to accept their deal, promising a swift payday for some opportunistic lawyers."

After that deal was rejected, Haas said it was more practical to settle mesothelioma claims outside of bankruptcy before addressing much larger group of 85,000 to 100,000 ovarian cancer claims. Haas said J&J faced hundreds of mesothelioma lawsuits, and it has settled all but 153 lawsuits.

Source: Healthcare Press (healthcarepress.net)

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