Johnson & Johnson moves forward with $6.475 billion settlement ofxa0talcxa0cancer lawsuits

Johnson & Johnson is proceeding with a proposed settlement deal worth $6.475 billion for numerous lawsuits alleging that their talc products contain asbestos and cause ovarian cancer. The settlement will be carried out through a subsidiary company’s bankruptcy filing. By doing so, Johnson & Johnson aims to resolve all current and future ovarian cancer claims within a three-month voting period. The proposed deal builds upon previous settlements reached by Johnson & Johnson for mesothelioma cases and claims made by U.S. states over the company’s failure to warn consumers about the risks of their talc products. Despite the ongoing lawsuits, Johnson & Johnson asserts that their products do not contain asbestos and do not cause cancer.