U.S. court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits
Publishing timestamp: 2023-01-30 17:53:22
Summary
A U.S. appeals court overturned J&J's attempt to use bankruptcy to offload lawsuits over its talc products. The court ruled that J&J improperly placed a subsidiary into Chapter 11 proceedings, allowing talc litigation to resume against the company. J&J's shares fell, and the decision throws into doubt the company's strategy for disposing of talc litigation.
Sentiment: MIXED
Keywords: health care industry, 3m co, biotech and pharmaceuticals, business news, united states, retail industry, johnson & johnson,