Johnson & Johnson has agreed to pay $8.9 billion over 25 years to resolve tens of thousands of lawsuits accusing the company’s talc-based baby powder of causing cancer.[0] The proposal follows a major legal setback for the company after a US court of appeals rejected LTL’s bankruptcy plan.[1] In 2021, LTL was established by J&J to assume responsibility for all claims related to talc and to protect the corporation from potential significant losses.[2] Following the unsuccessful attempt, the drugmaker was poised to face tens of thousands of lawsuits.[2] J&J has denied the allegations and has not admitted any wrongdoing in the proposed settlement.[3] The company has ended sales of its talc-based baby powder globally this year after facing thousands of lawsuits from customers claiming its talc products caused cancer due to contamination with the carcinogen asbestos.[4]
0. “Johnson & Johnson reaches $8.9 billion deal in talc cancer settlement” The Hill, 5 Apr. 2023, https://thehill.com/policy/healthcare/3935380-johnson-johnson-reaches-8-9-billion-deal-in-talc-cancer-settlement/
1. “Johnson & Johnson proposes $8.9bn talc settlement – The Irish Times” The Irish Times, 5 Apr. 2023, https://www.irishtimes.com/business/2023/04/05/johnson-johnson-proposes-89bn-talc-settlement/
2. “J&J seeks $8.9B talc settlement after yearslong legal battle” FiercePharma, 4 Apr. 2023, https://www.fiercepharma.com/pharma/jj-opens-its-wallet-whopping-89b-talc-settlement-after-yearslong-legal-battle
3. “Johnson & Johnson is again trying to use bankruptcy to settle talc cases for $8.9 billion” CNN, 4 Apr. 2023, https://www.cnn.com/2023/04/04/investing/johnson-and-johnson-talc-bankruptcy/index.html
4. “Johnson & Johnson offers record $8.9B talcum powder settlement” UPI News, 4 Apr. 2023, https://www.upi.com/Top_News/US/2023/04/04/johnson-johnsnon-89-billion-talcum-powder-settlement/9001680648043/