Johnson & Johnson will pay out 6,5 billion dollars in 25 years to resolve disputes regarding the alleged relationship between his talc and cancer ovaries. As reported by Reuters, the agreement, which would close all lawsuits related to mesothelioma through the bankruptcy declaration of one of its subsidiaries, Ltl Management, has already obtained approval from the majority of the plaintiffs, representing 99% of the lawsuits related with talc. The actions of J&J, closed down 0,5% on Wall Street.
Johnson & Johnson talc and ovarian cancer
To come into force, the proposed plan requires the approval of 75% of applicants within a three-month period, during which they will be informed of the details. The remaining causes, the pharmaceutical giant said, will be managed outside of this plan.
Despite the allegations, the company continues to deny that its talc contains asbestos and cause ovarian cancer. A summary of studies published in January 2020, involving 250 women in the US, found no significant statistical link between the use of talcum powder in the genital areas and the risk of ovarian cancer. Because of talc, in 2021 J&J had already been sentenced by the US Supreme Court to compensate its customers for over two billion dollars.
To address concerns about the safety of its products, J&J created a standalone company called Kenvue, which handles the sale of a cornstarch-based version of Johnson's talcum powder. If ratified, this agreement could put an end not only to current legal disputes, but also future ones, marking a landmark moment in the resolution of one of the most protracted and costly legal disputes the company has ever faced.
