Annika Kim Constantino covers the biotech and pharmaceutical industry for CNBC Digital.
Johnson & Johnson on Wednesday said it plans to pay $6.5 billion over 25 years to settle nearly all of the thousands of lawsuits in the U.S. claiming its talc-based products caused ovarian cancer, pending approval of the claimants. Those cases have for decades caused financial and public relations trouble for J&J, which contends that its now-discontinued talc baby powder and other talc products are safe for consumers.
“We firmly believe this plan is in the best interest of claimants and should receive a favorable and immediate confirmation from the bankruptcy court,” said Erik Haas, J&J’s worldwide vice president of litigation, during the call. He contended the settlement is a far better recovery for claimants than would be likely in a trial. “As that track record shows, most of bearing claimants have not recovered, nor are they expected to ever recover anything at trial,” Haas said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kim Jin Kyung And Pro Goalkeeper Kim Seung Gyu Announce MarriageModel-turned-actress Kim Jin Kyung is getting married! On April 29, it was reported that Kim Jin Kyung and professional goalkeeper Kim Seung Gyu will be getting married in June.
Read more »
Kim Kardashian Exudes Mob Wife Energy in a Massive Fur Coat and PantaleggingsKim Kardashian | Kim's Court
Read more »
Kim Kardashian Joins VP Kamala Harris at White House for Prison Reform DiscussionKim Kardashian | Kim's Court
Read more »
Kim Soo Hyun Surprises Kim Ji Won With Touching Early Christmas Gift In “Queen Of Tears”Christmas is coming early on the next episode of “Queen of Tears”! Spoilers On the previous episode of “Queen of Tears,” Baek Hyun Woo (Kim Soo Hyun) romantically proposed to Hong Hae In (Kim Ji Won) a second time, proffering a ring and asking her to cancel their divorce.
Read more »
Kim Ji Hoon Joins Kim Tae Hee And Park Hae Soo In Upcoming American Series “Butterfly”Kim Ji Hoon is set to join Amazon Prime's upcoming series 'Butterfly' alongside Kim Tae Hee and Park Hae Soo! On April 19, Kim Ji Hoon's agency Big Picture ENT announced, 'Kim Ji Hoon has been confirmed to appear in the new Amazon Prime series 'Butterfly.
Read more »
Kim Kardashian's 2000s Outfit Is a Throwback to the Old KimI miss the old Kim. And based on her latest outfit, it seems like Kim does too.
Read more »