J&J will pay $8.9 billion to settle claims cosmetic talc products caused cancer
Publishing timestamp: 2023-04-04 18:48:53
Summary
J&J has agreed to pay $8.9 billion over the next 25 years to settle allegations that its talc-based baby powder and other talc products caused cancer. The settlement comes after the company faced thousands of lawsuits from customers claiming its talc products caused cancer due to contamination with carcinogen asbestos. J&J's subsidiary LTL Management also refiled for Chapter 11 bankruptcy protection after its first attempt was thwarted. More than 60,000 claimants have committed to support the proposed resolution, which would require approval in bankruptcy court. However, J&J still pushed back on talc allegations, stating that it believes the claims lack scientific merit.
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Keywords: health care industry, laws, business news, johnson & johnson, business, breaking news: politics,