Johnson & Johnson effort to resolve talc cancer lawsuits in bankruptcy fails a second time
Publishing timestamp: 2023-07-28 22:35:27
Summary
A federal bankruptcy judge has rejected Johnson & Johnson's second attempt to resolve lawsuits alleging that the company's talc products caused cancer. The judge dismissed the bankruptcy filing of J&J's subsidiary, LTL Management, stating that it was not in immediate financial distress. This decision puts J&J's proposed $8.9 billion settlement at risk and the company intends to appeal the ruling. J&J maintains that its talc products are safe based on research and clinical evidence.
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Keywords: biotechnology, johnson & johnson, biotech and pharmaceuticals, business news, pharmaceuticals, business, health care industry,
Source: https://www.cnbc.com/2023/07/28/jj-effort-to-resolve-talc-cancer-lawsuits-fails-a-second-time-.html