Johnson & Johnson announced it will pay $5.5 billion to settle approximately 69,000 lawsuits alleging its baby talc and other talc products caused cancer. The company said the settlement covers 99.75% of all pending cases, including those in federal and state courts.
Johnson & Johnson has officially announced a $5.5 billion settlement to resolve talc-related cancer lawsuits, providing new details on the scope of the deal. The company said the settlement covers 69,000 cases, representing 99.75% of all pending lawsuits, which were consolidated in federal court in New Jersey and related state court proceedings.
The announcement follows earlier reports of a $5.5 billion settlement, as The Zioneer reported at 05:21 Jerusalem, citing Israeli media. The company's own statement confirms the deal and adds specificity regarding the number of cases and the percentage of claims resolved.
Johnson & Johnson has long maintained that its talc products are safe, but has moved to settle tens of thousands of claims to provide certainty for shareholders and avoid prolonged litigation. The settlement does not constitute an admission of liability.
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