Johnson & Johnson Proposes a $6.5 Billion Payout

A subsidiary of Johnson & Johnson (J&J) is proposing to pay nearly $6.5 billion to resolve nearly all the talc ovarian cancer lawsuits brought against the company.

J&J said the subsidiary plans to pay about $6.475 billion over 25 years to settle most of the pending lawsuits alleging its branded baby powder containing talc caused ovarian cancer. The company said it would resolve 99.75 percent of the pending lawsuits brought against J&J and its affiliates over the allegations.

It also announced in 2022 that it would stop selling its talc-based baby powder in 2023 amid the ongoing legal battles over the product.

Read more at The Hill