Business

Johnson & Johnson Proposes $6.475 Billion Talc Cancer Claim Settlement

May 1, 2024 1 min read

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Johnson & Johnson (J&J) has proposed a settlement of $6.475 billion to resolve tens of thousands of lawsuits that allege the company's baby powder and talc products contain asbestos and cause ovarian cancer. This settlement plan would be executed through a third bankruptcy filing by J&J's subsidiary, LTL Management. The resolution aims to cover all current and future ovarian cancer claims, representing 99% of talc-related litigation against the company.

The proposed settlement has garnered support from the majority of plaintiff attorneys involved in the cancer lawsuits. J&J has initiated a three-month voting period to reach a consensus among those affected. If successful, the agreement would require a 75% approval from claimants to facilitate a bankruptcy settlement, effectively concluding the litigation and preempting future lawsuits of a similar nature.

This development comes after J&J reached settlements with approximately 95% of individuals who had sued the company after developing mesothelioma, another cancer linked to asbestos exposure. The company has been managing the scientific challenges and legal changes surrounding the evidence linking talc to ovarian cancer. If the plan is accepted, it will represent a significant step in J&J's efforts to move past these widespread legal challenges.

#lawsuits #health #politics

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