Johnson & Johnson Pays Billions to Settle Talc Lawsuits

Johnson & Johnson plans to pay around $5.5 billion. This money settles about 76,000 lawsuits. The lawsuits claim the company's baby powder and talc products caused ovarian cancer.

This is not a new issue for the company. Johnson & Johnson stopped selling its talc-based baby powder in North America in 2020. It replaced it with a cornstarch-based product. The company then decided to stop selling talc-based powder worldwide by the end of 2023.

The health claims against Johnson & Johnson have been ongoing for years. Many women say the talc in the powder sickened them. The company maintains its products are safe. Still, it faces legal battles.

The large settlement shows Johnson & Johnson wants to move past these legal problems. It aims to resolve a big part of the ongoing lawsuits. This decision helps the company focus on its future business plans.

Source: Fox Business