Johnson & Johnson on Tuesday said it will pay $8.9 billion over the next 25 years to settle allegations that the company’s baby powder and other talc products caused cancer.
The company proposed the settlement in a securities filing.
But J&J still pushed back on the talc allegations.
“The Company continues to believe that these claims are specious and lack scientific merit,” said Erik Haas, J&J’s worldwide vice president of litigation, in a statement.
The company ended sales of its talc-based baby powder globally in 2023 after it faced thousands of lawsuits from customers claiming its talc products caused cancer due to contamination with a carcinogen called asbestos.
J&J spun off subsidiary LTL management in October 2021 in a bid to reduce its losses from litigation and settlement. The company funneled its talc lawsuits to the subsidiary and declared it bankrupt.
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