Johnson & Johnson said on Monday it will pay 5.5 billion US dollars to resolve tens of thousands of lawsuits alleging that its baby powder and other talc products cause ovarian cancer. This landmark settlement is intended to put an end to years of contentious litigation that has plagued the company. Johnson & Johnson said the settlement covered approximately 69,000 cases brought together in the New Jersey federal courts, as well as related cases in various state courts, accounting for a total of 99.75% of the remaining talcum powder claims. The plaintiff's law firm confirmed the agreement on Monday, saying it was a good solution after ten years of court tug-of-war. The agreement is still subject to approval by the judge responsible for overseeing the federal lawsuit. Eric Haas, vice president of litigation affairs at Johnson & Johnson, said the claims were “unfounded” and the company was willing to settle the matter.

Johnson & Johnson said on Monday it will pay 5.5 billion US dollars to resolve tens of thousands of lawsuits alleging that its baby powder and other talc products cause ovarian cancer. This landmark settlement is intended to put an end to years of contentious litigation that has plagued the company. Johnson & Johnson said the settlement covered approximately 69,000 cases brought together in the New Jersey federal courts, as well as related cases in various state courts, accounting for a total of 99.75% of the remaining talcum powder claims. The plaintiff's law firm confirmed the agreement on Monday, saying it was a good solution after ten years of court tug-of-war. The agreement is still subject to approval by the judge responsible for overseeing the federal lawsuit. Eric Haas, vice president of litigation affairs at Johnson & Johnson, said the claims were “unfounded” and the company was willing to settle the matter.