Health
J&J Seeks Backing for $11 Billion Baby Powder Cancer Deal
- Company aiming to resolve about 60,000 lawsuits targeting talc
- J&J pitches pre-packaged bankruptcy in effort to reach accord
This article is for subscribers only.
Johnson & Johnson will ask thousands of people suing over its allegedly tainted baby powder to vote for a settlement that would resolve all litigation for $11 billion — $2.1 billion more than the company offered last year.
In a news release Wednesday, J&J urged those who blame the talc-based powder for ovarian cancer to support a third bankruptcy filing aimed at corralling all current and future legal claims. Two earlier attempts to use Chapter 11 to foster such a deal failed as plaintiffs held out for a bigger payout.