Johnson & Johnson has reached a deal in the long-running lawsuit against its talc-based products. Thousands of people have sued the company over the past decade, claiming the products - including its iconic baby powder - caused cancer.
The Company has agreed to contribute up to a present value of USD 8.9 billion, payable over 25 years, to resolve all the current and future talc claims, which is an increase of USD 6.9 billion over the USD 2 billion previously committed in connection with LTL’s initial bankruptcy filing in October 2021.
“The Company continues to believe that these claims are specious and lack scientific merit,” said Erik Haas, Worldwide Vice President of Litigation, Johnson & Johnson. “However, as the Bankruptcy Court recognized, resolving these cases in the tort system would take decades and impose significant costs on LTL and the system, with most claimants never receiving any compensation. Resolving this matter through the proposed reorganization plan is both more equitable and more efficient, allows claimants to be compensated in a timely manner, and enables the Company to remain focused on our commitment to profoundly and positively impact health for humanity.”
The Company has won the vast majority of cosmetic talc-related jury trials that have been litigated to date and reiterates that none of the talc-related claims against the Company have merit.
The claims are premised on the allegation that cosmetic talc causes ovarian cancer and mesothelioma, a position that has been rejected by independent experts, as well as governmental and regulatory bodies, for decades.
