Johnson & Johnson's $5.5 Billion Settlement Over Talc Lawsuits Claiming Ovarian Cancer
· Telemundo McAllen (KTLM)
Johnson & Johnson has agreed to pay $5.5 billion to settle ongoing lawsuits claiming its talc products caused ovarian cancer. The company, which has faced talc-related lawsuits for over a decade, stated that the settlement requires participation from at least 95% of the remaining claimants. A bankruptcy judge previously rejected a proposed $9 billion settlement from its subsidiary, Red River Talc. A federal judge recently ordered claimants to justify why their pending talc claims should not be dismissed, as witnesses failed to establish a direct link between the product and cancer. As part of the new agreement, Johnson & Johnson will make an initial payment of up to $3 billion next year, with no additional payments due until 2028. The company's shares rose over 2% before the market opened on Tuesday.
AI summary · Source: Telemundo McAllen (KTLM) →
