Johnson & Johnson reaches $700 million talc settlement with U.S. states
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Johnson & Johnson has agreed to pay $700 million to decide on an investigation by 42 U.S. states and Washington, D.C., into its advertising of toddler powder and other talc-based mostly mostly products blamed for allegedly causing most cancers.
The settlement resolves costs that Johnson & Johnson misled patrons into believing its talc products, which it offered for better than a century earlier than stopping, have been protected.
J&J didn’t admit wrongdoing in settling with the states, which have been led by Florida, North Carolina and Texas, and has stated its talc products are protected and establish no longer trigger most cancers. The company announced a settlement in precept in January.
“Here’s a first-rate development for consumer product security,” Florida Licensed official Traditional Ashley Touchy stated in an announcement.
J&J restful faces tens of hundreds of talc proceedings, and a class action accusing the Novel Brunswick, Novel Jersey-based mostly mostly company of fraudulently hiding their dangers from shareholders.
As of March 31, about 61,490 of us have been restful suing J&J over talc. Most have been females with ovarian most cancers, whereas a smaller number had mesothelioma, a construct of most cancers linked to asbestos.
J&J stopped selling talc-based mostly mostly toddler powder globally final 365 days, switching to corn starch as the main ingredient. It has maintained that its products accomplish no longer dangle asbestos.
The company has twice tried to get to the underside of the litigation by inserting into financial peril a subsidiary it created to dangle its talc liabilities, but courts rebuffed every attempts.
On Might perhaps 1, J&J proposed a $6.48 billion settlement to get to the underside of quite a lot of the litigation through a third financial peril filing. It has place aside an $11 billion reserve to duvet all talc liabilities.
“The company continues to pursue loads of paths to function a total and closing resolution of the talc litigation,” Erik Haas, J&J worldwide vp of litigation, stated in an announcement on Tuesday.
“We can continue to take care of the claims of of us that accomplish no longer desire to participate in our contemplated consensual financial peril resolution through litigation or settlement,” he added.
Reuters
Reuters
