NEW YORK: Johnson & Johnson has confirmed it will offer as much as US$8.9bil (RM39.13bil) to settle thousands of claims that the company's talcum powder causes cancer, reported UPI.
The New Jersey-based multinational medical giant agreed to contribute a total of US$8.9bil over 25 years to resolve all current and potential future liabilities. That figure is US$6.9bil higher than the company's previous attempts to resolve the situation.
Johnson & Johnson created the LTL subsidiary in 2021, specifically to handle the plethora of lawsuits against its popular baby powder. A US federal appellate court in January rejected the company's previous bankruptcy claim as it attempted to protect itself from thousands of lawsuits related to claims its talcum-based powder was contaminated with asbestos, a carcinogen.
"Our job is to get our clients restitution for their injuries, and this settlement is the culmination of over a decade of fighting for justice."
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