Johnson & Johnson moves forward with $6.475 billion settlement of talc cancer lawsuits

Johnson & Johnson is moving forward with a $6.475 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ovarian cancer, the company said Wednesday in a statement. The deal would allow it to resolve the lawsuits through a third bankruptcy filing of a subsidiary company. It will begin a three-month voting period in hopes of reaching consensus on a settlement of all current and future ovarian cancer claims.

states, which have alleged that the company failed to warn consumers about the dangers of its talc products. J&J did not disclose the value of the mesothelioma settlements, but it said that it recorded an incremental charge of $2.7 billion in the first quarter of 2024, to account for recent talc-related settlements. In its second bankruptcy filing, LTL put forward an $8.

Source: Healthcare Press (healthcarepress.net)

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