Johnson and Johnson offers $8.9 billion to Settle lawsuits for having Carcinogen in their products

New Delhi (India), 5th April 2023: Johnson & Johnson, a major US pharmaceutical company, put forth a $8.9 billion compensation offer on Tuesday to settle long-running lawsuits alleging that its talcum powder products contributed to cancer.

The bankruptcy court still needs to approve the planned settlement, according to the New Jersey-based company, but it “will equitably and efficiently resolve all claims arising from cosmetic talc litigation.”

The $8.9 billion settlement would rank alongside those reached by tobacco companies and, more recently, opioid manufacturers as one of the largest product liability settlements ever in the United States, if it is authorised by the court and a majority of the plaintiffs.

Thousands of claims have been filed against J&J because of talcum powder that may have contained traces of asbestos and was linked to ovarian cancer.

The company has never acknowledged misconduct, but as of May 2020, it no longer sells its talc-based baby powder in the United States and Canada.

According to Erik Haas, vice president of litigation at J&J, “the company continues to believe that these claims are speculative and devoid of scientific merit.”

The newly proposed settlement, according to the company, “is neither an admission of wrongdoing nor a sign that the company has modified its long-standing position that its talcum powder products are safe.”

According to Haas, the settlement “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.”

J&J said the $8.9 billion would be paid to the tens of thousands of claimants over 25 years through a J&J subsidiary.