To resolve the lawsuits, Johnson & Johnson will pay $6.45 billion over 25 years.
For years, the company faced personal-injury lawsuits filed by more than 52,000 plaintiffs nationwide that alleged use of the now-discontinued baby powder caused cancer. Johnson & Johnson has sought to resolve these cases by offloading them to its subsidiary and having the unit file for bankruptcy. In February 2023, an appeals court rejected the bankruptcy plan.
“The talc claims asserted against the company exemplify the egregious impact on U.S. businesses from meritless litigation and extreme judgments obtained by the plaintiffs’ bar through forum shopping, the distortion of scientific literature with junk science, and the unregulated and surreptitious financing of product litigation by financial institutions, including private equity and sovereign wealth funds,” Erik Haas, Johnson & Johnson worldwide vice president of litigation, said in a news release.
The company has settled most cases related to mesothelioma, and those settlements are not part of the $6.45 billion plan.
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