Johnson & Johnson proposes to pay $6.5B to settle talc ovarian cancer lawsuits in US

Johnson & Johnson on Wednesday proposed a plan to pay nearly $6.5 billion to resolve tens of thousands of lawsuits claiming that its cosmetic talc-based powder causes cancer. 

Through a bankruptcy filing of its subsidiary company, LTL Management, J&J will be able to resolve about 99.75% of the pending talc lawsuits against the company and its affiliates in the U.S. Courts have rebuffed J&J's two previous efforts to resolve the lawsuits through the bankruptcy of the subsidiary created to absorb the company's talc liability.