Johnson & Johnson Boosts Baby Powder Settlement Offer to Over $8.2 Billion, Files for Chapter 11 Bankruptcy

Sep 20, 2024, 07:54 PM

Johnson & Johnson has increased its settlement offer to over $8.2 billion to resolve thousands of lawsuits alleging that its baby powder caused cancer. This marks an increase from the previous offer of $6.5 billion. In conjunction with this, Johnson & Johnson's subsidiary, Red River Talc LLC, has filed for Chapter 11 bankruptcy for the third time to advance the proposed settlement. The company announced that a majority of baby powder users, including 83% of plaintiffs, have agreed to back the settlement, which aims to address both current and future ovarian cancer talc claims. This move is part of Johnson & Johnson's efforts to put years of litigation to rest.