Johnson & Johnson offers more than $5 billion to settle baby powder lawsuits
(CNN)– Johnson & Johnson says it is offering five-and-a-half-billion dollars to settle tens of thousands of lawsuits.
The plaintiffs allege its talcum powder-based products caused Ovarian Cancer.
Johnson & Johnson denies that claim and refutes accusations its products contained asbestos.
The pharmaceutical giant now relies on cornstarch-based formulas for its baby powder.
The company in a statement says it hopes the settlement payouts will bring closure to what it calls “meritless” litigation over a decade and a half time.
