Johnson & Johnson said Tuesday that it will offer at least $8.9 billion to resolve thousands of lawsuits filed by people alleging that the company's products containing talc caused cancer, quadrupling a previous offer to settle the suits.
Johnson & Johnson said Tuesday that it will offer at least $8.9 billion to resolve thousands of lawsuits filed by people alleging that the company's productsThe health and consumer goods company laid out the proposal in a news. The suggested settlement, which is payable over 25 years, is $6.9 billion more than its previous offer in connection with a 2021 bankruptcy filing by its LTL Management unit.
Women have filed a barrage of suits in recent years alleging that J&J's baby powder gave them ovarian cancer or mesothelioma, a cancer that strikes the lungs and other organs."The newly announced settlement marks a significant victory for the tens of thousands of women suffering from gynecological cancers caused by J&J's talc-based products," a group of plaintiffs' law firms said in a statement.
J&J continues to deny that its talcum powder poses health risks, saying that the settlement offer does not constitute an admission of wrongdoing. "The company continues to believe that these claims are specious and lack scientific merit," Erik Haas, worldwide vice president of litigation at Johnson & Johnson, said in a statement."However, as the bankruptcy court recognized, resolving these cases in the tort system would take decades and impose significant costs on LTL and the system, with most claimants never receiving any compensation.
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