Johnson & Johnson Offers $9 Billion To Settle 'Cancer Talc' Cases

Johnson & Johnson offers $9 billion to settle 'talc caused cancer' lawsuits worldwide...The US pharmaceutical major has said it is ready to pay up to resolve over 40,000 pending lawsuits, which claimed that its talcum powder products meant for babies caused cancer due to the presence of asbestos. Earlier, the pharma giant had proposed $2 billion to resolve the legal battles. But now it has increased the amount significantly in hopes of closing all legal battles in this regard....J&J said the proposed payout would be paid to the tens of thousands of claimants over 25 years. The firm has never admitted the charges in the past, but it stopped sales in the US and Canada in 2020. It said due to "misinformation" regarding the product, which prevented nappy rashes in babies, the demand has gone down drastically.  The company had sold baby powder for almost 130 years. It continues to sell a version of the product that it claims contains cornstarch.