Johnson & Johnson announced on Tuesday that it has agreed to pay $8.9 billion over 25 years to resolve tens of thousands of lawsuits accusing the company’s talc-based baby powder of causing cancer.
The company said it had secured the support of the more than 60,000 parties that have filed lawsuits against Johnson & Johnson on the agreement, which will go toward resolving “all current and future talc claims.”
The agreement comes as part of a Johnson & Johnson subsidiary’s efforts to re-file for Chapter 11 bankruptcy protection with the U.S. Securities and Exchange Commission (SEC).
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