Current:Home > MyJohnson & Johnson reaches tentative deal to resolve talc baby powder litigation-DB Wealth Institute B2 Expert Reviews
Johnson & Johnson reaches tentative deal to resolve talc baby powder litigation
View Date:2024-12-23 22:36:33
Johnson & Johnson has reached tentative agreement to resolve talc baby powder claims with more than 40 states, the world's biggest maker of health care products confirmed on Tuesday.
"As was leaked last week, that progress includes an agreement in principle that the company reached with a consortium of 43 State Attorneys Generals to resolve their talc claims. We will continue to address the claims of those who do not want to participate in our contemplated consensual bankruptcy resolution through litigation or settlement," Erik Haas, J&J's worldwide vice president of litigation, stated.
Bloomberg News earlier this month reported that J&J struck an initial deal to pay about $700 million to resolve a probe by states into allegations it failed to warn people about the potential health risks posed by the talc in its baby powder. J&J CFO Joseph Wolk confirmed the proposed settlement in an interview Tuesday with the Wall Street Journal.
The development is the latest in decade-long legal battles and investigations into links between cancer and the talc used in one of its best-known products. More than 50,000 claims have been filed against the company, mostly on behalf of women who developed ovarian cancer.
The settlement comes after J&J tried twice without success to use bankruptcy courts to limit its exposure to talc litigation.
J&J has long maintained its talc-based products do not cause cancer. The company pulled talc-based powders off the market in North America in 2020 and now offers a product that uses cornstarch instead.
The company last year set aside roughly $400 million to resolve U.S. state consumer protection claims. That was part of a larger $8.9 billion effort in the bankruptcy filing of one of its units to settle claims its baby powder and other talc products cause cancer.
- In:
- Johnson & Johnson
Kate Gibson is a reporter for CBS MoneyWatch in New York.
veryGood! (5176)
Related
- Fighting conspiracy theories with comedy? That’s what the Onion hopes after its purchase of Infowars
- Amazon says Prime scams are on the rise as the holidays near
- Russia's Andrey Rublev bloodies own knee in frustration at ATP World Finals
- Salman Rushdie gets first-ever Lifetime Disturbing the Peace Award after word was suppressed for his safety
- How Kim Kardashian Navigates “Uncomfortable” Situations With Her 4 Kids
- Advocates scramble to aid homeless migrant families after Massachusetts caps emergency shelter slots
- David Schwimmer shared this photo in honor of Matthew Perry: 'It makes me smile and grieve'
- Father of July 4th parade shooting suspect turns himself in to begin jail sentence
- New Orleans marks with parade the 64th anniversary of 4 little girls integrating city schools
- Father of July 4th parade shooting suspect turns himself in to begin jail sentence
Ranking
- Full House Star Dave Coulier Shares Stage 3 Non-Hodgkin's Lymphoma Diagnosis
- Business lobby attacks as New York nears a noncompete ban, rare in the US
- Jennifer Aniston reflects on 'Friends' co-star Matthew Perry in emotional tribute: 'Chosen family'
- Experts decode 'cozy' dress code for Beyoncé film premiere: 'I do not foresee simplicity'
- Suspect arrested after deadly Tuskegee University homecoming shooting
- Queen’s Gambit Stage Musical in the Works With Singer Mitski
- Sweden opens state-of-the-art plant for sorting plastics for recycling
- Blaze at a coal mine company building in northern China kills 19 and injures dozens
Recommendation
-
World War II veteran reflects on life as he turns 100
-
Grandmother and her family try mushroom tea in hopes of psychedelic-assisted healing
-
Former WWE Star Gabbi Tuft Shares Transition Journey After Coming Out as Transgender
-
Voting begins in Madagascar presidential election boycotted by most opposition leaders
-
Mike Tomlin's widely questioned QB switch to Russell Wilson has quieted Steelers' critics
-
Anonymous video chat service Omegle shuts down, founder cites 'unspeakably heinous crimes'
-
These Are The Best Early Black Friday 2023 Home Deals at Wayfair, Casper & More
-
Antonio Banderas Reflects on Very Musical Kids Dakota Johnson, Stella Banderas and Alexander Bauer