Johnson & Johnson (J&J) has offered to pay as much as $5.5bn to resolve tens of thousands of lawsuits in the USalleging that its baby powder and other products containing talcum cause ovarian cancer, the BBC reports.
The proposed landmark settlement aims to close a long-running legal battle that has weighed on the New Jersey-based healthcare giant for years.
J&J has denied that its talc-based products caused cancer and has changed the formula of its widely used baby powder.
Erik Haas, the firm’s vice president of litigation said on Monday that the allegations are “meritless” and that J&J was willing to settle in order to finally resolve the matter.
J&J said the settlement would cover about 76,000 cases, totalling most of the remaining talc-related claims. The firm said it will offer up to $3bn next year, with no additional payments due before 2028, it said.
The proposal must be accepted by legal firms representing 95% of the ovarian cancer claims in state and federal courts before it can be finalised, the J&J said.
