Johnson & Johnson (J&J) announced its offer to pay up to $8.9 billion to end lawsuits accusing it of including carcinogenic compounds in its talcum powder. The US company racked up thousands of claims over this matter over the years.

According to the company, more than 60,000 plaintiffs have agreed to these terms, which still need to be approved by a bankruptcy judge because J&J has targeted a subsidiary for potential liability and filed for bankruptcy. In January, the court already rejected another plan of this type, with which the company sought to protect itself from lawsuits and put an end to open processes.

Despite the offer, J&J continues to insist that all claims are baseless and that its talcum powder was safe. According to the company, resolving this in the liability system would take decades and would impose significant costs on the subsidiary and the system.

J&J also announced that it will stop selling its baby powder worldwide in 2023, two years after doing so in the US and Canada. The company has faced thousands of lawsuits since reports surfaced in 2018 that J&J had known for decades that its talcum powder contained asbestos, a mineral with asbestos-like harmful health effects.

K. Tovar

Source: Bancaynegocios

(Reference image source: file)

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