April 15, 2024

The world’s largest producer of well being care merchandise has agreed to resolve an investigation by dozens of states into claims that the corporate misled shoppers concerning the security of its talc child powder.

Johnson & Johnson has reached a tentative settlement with 43 states to pay round $700 million after a decade-long authorized combat to resolve claims that the corporate’s talc-based merchandise allegedly prompted most cancers. J&J Chief Monetary Officer Joseph Wolk confirmed the settlement in an interview with the Wall Road Journal, saying it was an “vital step” to lastly “put the matter behind us.”

J&J has twice tried to make use of chapter courts as a approach to restrict its legal responsibility. The corporate proposed final 12 months to pay practically $9 billion to settle greater than 52,000 private damage lawsuits, a lot of which had been filed by girls who developed ovarian most cancers after utilizing the corporate’s child powder.  

Nonetheless, that proposal was in the end rejected by a chapter courtroom, and now a lot of these lawsuits are slated to go to trial later this 12 months. Some analysts undertaking they might price the corporate upwards of $15 billion.

J&J maintains that its talc-based child powder is protected and was not a cancer-causing agent, however it has since discontinued gross sales of the product.

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