Johnson & Johnson Seeks Settlement in Baby Powder Cancer Claims

Johnson & Johnson is negotiating with plaintiffs' lawyers to settle lawsuits alleging its talc products caused cancer. The company aims to finalize a $6.48 billion global settlement through a subsidiary's bankruptcy after facing legal challenges. J&J plans to prevent future lawsuits by securing a majority vote from claimants.

Johnson & Johnson is in talks with plaintiffs' lawyers to finalize a proposed $6.48 billion settlement over allegations that its talc products, including baby powder, caused cancer. The company is addressing holdouts to secure a deal.

J&J has paused its vote count temporarily to gather more support for the settlement, as it requires at least 75% of claimants to agree. Erik Haas, J&J's worldwide VP of litigation, confirmed an extension to allow attorneys to discuss the plan with their clients.

The proposed settlement aims to resolve all current and future ovarian cancer claims, leveraging a subsidiary's bankruptcy to prevent future lawsuits. This strategy follows mixed trial outcomes, including a $2.12 billion verdict against J&J.

(With inputs from agencies.)