J&J Increases Talc Lawsuit Settlement Offer by $1.1 Billion

J&J Increases Talc Lawsuit Settlement Offer by $1.1 Billion. Johnson & Johnson has added $1.1 billion to its proposed settlement for talc-related lawsuits. This brings the total settlement offer to $9 billion. The company aims to resolve thousands of claims that its talc-based products, like baby powder, caused cancer. This additional amount is part of efforts to reach a final resolution and end the legal battles.

Plaintiffs claim that Johnson & Johnson’s talc products contained asbestos, leading to ovarian cancer and mesothelioma. Despite these allegations, the company has maintained its stance, stating that its products are safe and asbestos-free. Regulatory agencies and scientific studies, they argue, support this position. However, Johnson & Johnson continues to face mounting legal costs.

In their announcement, the company stressed that increasing the settlement offer doesn’t mean they admit guilt. They reiterated confidence in the safety of their products but acknowledged the need to resolve the litigation and focus on core operations.

The settlement would cover approximately 60,000 claims, pending court approval. If approved, it would be one of the largest product liability settlements in U.S. history. The payout would occur over several years through a Johnson & Johnson subsidiary that has filed for bankruptcy protection.

Moreover, The increased offer follows resistance to a previous settlement proposal. Johnson & Johnson hopes that the additional $1.1 billion will bring more plaintiffs to the table and speed up the settlement process.

In 2020, the company stopped selling talc-based baby powder in the U.S. and Canada, citing a drop in demand. This was due to what the company called “misinformation” about the product’s safety. However, Johnson & Johnson continues to sell cornstarch-based baby powder in those markets and still offers talc-based products in other regions.

As legal proceedings continue, J&J remains committed to resolving the issue and moving forward. The company says it wants to provide fair compensation while focusing on future growth and healthcare innovation.