$1.1 Billion Added to Proposed Talc Settlement After Johnson & Johnson Expands Offer

Johnson & Johnson (JNJ.N), tab plans to pay an additional $1.1 billion to resolve tens of thousands of legal actions alleging its baby powder and other talc products caused cancer, two people familiar with the matter said.

The increase would boost the size of the settlement to more than $9 billion paid over 25 years. J&J on Wednesday said it reached an agreement with a plaintiffs’ lawyer representing 12,000 clients to recommend the settlement offer to them, adding to support already received from other claimants.

Read more at Reuters.