Johnson & Johnson Boosts Talc Settlement Offer to Over $8.2 Billion, Files Third Bankruptcy in Texas

Sep 20, 2024, 07:54 PM

Johnson & Johnson has increased its baby powder settlement offer to more than $8.2 billion to resolve thousands of lawsuits alleging that its talc-based products caused cancer. This new offer, up from the previous $6.5 billion, is part of the company's efforts to settle these claims. Additionally, Johnson & Johnson's subsidiary, Red River Talc LLC, has filed for Chapter 11 bankruptcy for the third time in Texas bankruptcy court to advance the settlement. The bankruptcy filing is aimed at addressing both current and future ovarian cancer talc claims. A majority of the plaintiffs, approximately 83%, have agreed to the settlement offer.