JnJ proposes USD 8.9 billion settlement of talc cancer claims
The company said the newly proposed settlement is not "an admission of wrongdoing, nor an indication that the company has changed its longstanding position that its talcum powder products are safe.";
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US: US pharmaceutical giant Johnson & Johnson on Tuesday proposed an $8.9 billion settlement to resolve years-old lawsuits claiming that its talcum powder products caused cancer.
The New Jersey-based company said the proposed settlement, which still needs the approval of a bankruptcy court, "will equitably and efficiently resolve all claims arising from cosmetic talc litigation."
If approved by the court and a majority of the plaintiffs, the $8.9 billion payout would be one of the largest product liability settlements ever in the United States, ranking alongside those entered into by tobacco companies and, more recently, opioid manufacturers.
J&J has been facing thousands of lawsuits over talcum powder containing traces of asbestos blamed for causing ovarian cancer.
The firm has never admitted wrongdoing but stopped selling its talc-based baby powder in the United States and Canada in May 2020.
"The company continues to believe that these claims are specious and lack scientific merit," Erik Haas, J&J's vice president of litigation, said in a statement.
Read also: JnJ unit loses bid to stay in bankruptcy during Supreme Court appeal
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