Johnson & Johnson Adds $1.1 Billion to Talc Settlement Offer, Now Roughly $9 Billion, Winning Over Allen Smith

Sep 4, 2024, 11:00 PM

Johnson & Johnson has increased its offer by $1.1 billion to roughly $9 billion to resolve tens of thousands of legal actions alleging its baby powder and other talc products caused cancer. This move has won over a longtime holdout, tort lawyer Allen Smith, for its talc settlement plan. The company aims to secure more votes in favor of the settlement after increasing its offer, according to a WSJ report citing two people familiar with the matter.