Johnson & Johnson (J&J) plans to pay an additional $1.1 billion to settle tens of thousands of lawsuits alleging its baby powder and talc products caused cancer. This would bring the total settlement to over $9 billion, paid over 25 years. J&J reached an agreement with a lawyer representing 12,000 clients, adding to support already received from other claimants.
The healthcare giant is planning to have a subsidiary declare bankruptcy to finalize the settlement. However, J&J will continue operating without filing for Chapter 11 itself. The company maintains that its talc products are safe and do not cause cancer. Some lawyers oppose the settlement, but J&J expects to meet the 75% claimant approval threshold required for a judge to finalize the settlement.