Legal
J&J Lifts Baby Powder Settlement Bid to More than $8.2 Billion
- Company adds more than $1.7 billion to cancer claimants offer
- Company is seeking to resolve thousands of remaining lawsuits
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Johnson & Johnson has boosted to more than $8.2 billion its offer to settle thousands of lawsuits by people who say its baby powder gave them cancer, according to people familiar with the matter.
The offer, an increase from the drugmaker’s previous $6.5 billion bid, signals that J&J may have to pay at least $1.7 billion more to resolve all of the claims in the yearslong litigation. Under the new terms, claimants could get bigger payouts and about $650 million in legal fees covered, said the people, who asked not to be identified discussing the deliberations. J&J declined to comment.