Johnson & Johnson will pay $700 million to settle talc baby powder investigation

      

Posted By - Marcia Kelsey
Image Credit – IndiaTimes

Johnson and Johnson has already reached a temporary agreement to solve an examination by over 40 states into blames the health-giant misguided patients about the safety of the talc baby powder and other products based on talc, the company stated on Tuesday.

Remarkably, the agreement does not solve the consumer lawsuits of around ten thousand, few of them are finalized to go under trial this year, alleging that those products based on talc caused the dangerous cancer.

Those situations have for years caused economic and public relations trouble for Johnson and Johnson, contending that its product based on talc and discontinued talc powders for babies are not dangerous for consumers.

“Consistent with the plan we outlined last year, the company continues to pursue several paths to achieve a comprehensive and final resolution of the talc litigation,” Officials stated. “As was leaked last week, that progress includes an agreement in principle that the Company reached with a consortium of 43 State Attorneys Generals to resolve their talc claims.”

Additionally, he said, “We will continue to address the claims of those who do not want to participate in our contemplated consensual bankruptcy resolution through litigation or settlement.”

“As was leaked last week, that progress includes an agreement in principle that the company reached with a consortium of 43 State Attorneys Generals to resolve their talc claims. We will continue to address the claims of those who do not want to participate in our contemplated consensual bankruptcy resolution through litigation or settlement,” J&J’s worldwide vice president of litigation Erik Haas stated.

“Consistent with the plan we outlined last year, the company continues to pursue several paths to achieve a comprehensive and final resolution of the talc litigation,” J&J litigation chief Erik Haas stated in a statement via email that reassures the report. “We will continue to address the claims of those who do not want to participate in our contemplated consensual bankruptcy resolution through litigation or settlement.”

“Johnson & Johnson delivered strong results in 2023 while we continued to invest in advancing and strengthening our pipeline,” says Executive Vice President and Chief Financial Officer, of Johnson & Johnson, Joe Wolk. “Our diverse portfolio offers innovative solutions from both our Innovative Medicine and MedTech businesses and, coupled with a multifaceted approach to capital allocation, provides the foundation for us to further improve health outcomes for patients and deliver significant value to shareholders.”

“Johnson & Johnson’s full year 2023 results reflect the breadth and competitiveness of our business and our relentless focus on delivering for patients,” said Chairman and Chief Executive Officer Joaquin Duato.

Moreover, continued saying, “We have entered 2024 from a position of strength, and I am confident in our ability to lead the next wave of health innovation.”

Since the matter, the company has offered $6.9 billion to settle down the ovarian cancer allegations, as per the Lawsuit Informational Center, the website founded by Zois and Miller, that updates plaintiffs on the talc lawsuits’ status.

However, Johnson and Johnson discontinued sales of the company’s talc-based powder for babies in 2020 in North America and applied the same globally in 2023. The company now offers to sell a cornstarch version of the product.