Johnson & Johnson is again trying to use bankruptcy to settle talc cases for $8.9 billion.
Johnson & Johnson is trying once again to use the bankruptcy courts to settle tens of thousands of cases that claim its talc products cause cancer. The pharmaceutical company is now willing to pay $8.9 billion to plaintiffs over 25 years.
This time, J&J's LTL spinoff upped the offer by $6.9 billion over the initial $2 billion settlement. The company says it has secured commitments from over 60,000 current claimants against J&J to support the resolution.
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