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Johnson & Johnson Offers $6.5 Billion Settlement to Settle Talc-Caused Cancer Lawsuits

A plan to settle tens of thousands of civil lawsuits alleging that its baby powder was contaminated with asbestos and caused ovarian cancer. Johnson & Johnson, the personal care products giant, has announced that it is willing to pay $6.475 billion: To close the proposed settlement, 75% of plaintiffs who claim to have been harmed by talc products produced by the company will have to accept it.

There are three months to inform the appellants of the proposal and to conclude the negotiation. If the settlement is reached, the company would resolve all current and future ovarian cancer lawsuits allegedly caused by its products, including 54,000 lawsuits centralized in a New Jersey federal court case.

Johnson & Johnson, which continues to reiterate that its products do not contain asbestos and do not cause cancer, said the settlement had the support of a majority of lawyers representing women who filed lawsuits against the company. “I believe J&J's proposed plan will bring agreement and peace to our customers and the thousands of women who have fought alongside us in their pursuit of justice,” said Jim Onder, who represents about 21,000 plaintiffs.

The company stopped sales of its baby powder in North America in 2020 and worldwide in 2023: It now sells a cornstarch-based formula, while insisting on the safety of talc-based products. The investigations of Reuters he was born in New York Times they found out that Johnson & Johnson was concerned for decades about the presence of asbestos in its talc, but made sure to keep the information hidden from the public. The news of this settlement plan had a positive impact on Johnson & Johnson shares, which opened up 3.5% on Wall Street.

Source: Vanity Fair

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