Johnson & Johnson Proposes $8.9 Billion To Settle Lawsuits Claiming Their Talcum Powder Caused Cancer

Pharmaceutical giant Johnson & Johnson (J&J) has offered an $8.9 billion settlement to resolve cancer lawsuits related to its talcum powder products.

The United States (US) company proposed a settlement for the cosmetic talc litigation, subject to approval from a bankruptcy court, to resolve all claims "equitably and efficiently."

The $8.9 billion payout, if accepted by the court and most plaintiffs, would stand among the largest product liability settlements in the US, matching those of tobacco companies and opioid manufacturers.

J&J has been facing lawsuits for years over talcum powder with asbestos linked to ovarian cancer.

Talc-based baby powder sales ended in the US and Canada in May 2020, although no wrongdoing was admitted by the company.

J&J established LTL Management LLC to handle and address the claims of tens of thousands of individuals, who will receive the $8.9 billion settlement over the course of 25 years. The subsidiary filed for bankruptcy protection.

LTL claims to have obtained agreements from 60,000 claimants for a global settlement based on these terms.

The company says its proposed settlement does not imply wrongdoing or a change in its stance that their talcum powder products are safe.

A quick resolution nevertheless is in the company and stakeholders' best interests, J&J said.