J&J Navigates Complex Settlement Negotiations Amid Talc Cancer Claims

Johnson & Johnson is negotiating with plaintiffs' lawyers over a proposed $6.48 billion global settlement for lawsuits alleging its talc products caused cancer. The company aims to finalize the settlement through a subsidiary's bankruptcy to avoid further litigation. J&J denies all allegations and asserts its products are safe.

Johnson & Johnson announced it is actively negotiating with plaintiffs' lawyers opposed to its proposed $6.48 billion settlement over lawsuits alleging that its talc products caused cancer. The company aims to remove any opposition to the settlement, which will be finalized through the bankruptcy of a subsidiary company.

The majority of claimants support the settlement, but J&J has paused the vote count temporarily to gather additional votes from previously opposing plaintiffs. Erik Haas, J&J's worldwide VP of litigation, stated this extension allows plaintiffs' attorneys time to reconsider their stance and support the plan.

Leading opposition lawyer Andy Birchfield welcomed the negotiations but remains prepared to resist another Chapter 11 filing, insisting the goal is timely and fair compensation for ovarian cancer victims. J&J faces over 62,000 lawsuits but continues to deny allegations, asserting its products are safe and free from asbestos contamination.

(With inputs from agencies.)