NJ Spotlight News
J&J willing to pay $8.9B to settle talc lawsuits
Clip: 4/5/2023 | 1m 12sVideo has Closed Captions
The company says a settlement doesn’t constitute an admission of wrongdoing
New Jersey-based Johnson & Johnson has proposed paying $8.9 billion to settle thousands of claims that its talc products, including baby powder, caused cancer. That's about four times the amount the pharmaceutical company originally agreed to. Johnson & Johnson says it will pay it by once again trying to file for bankruptcy.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
J&J willing to pay $8.9B to settle talc lawsuits
Clip: 4/5/2023 | 1m 12sVideo has Closed Captions
New Jersey-based Johnson & Johnson has proposed paying $8.9 billion to settle thousands of claims that its talc products, including baby powder, caused cancer. That's about four times the amount the pharmaceutical company originally agreed to. Johnson & Johnson says it will pay it by once again trying to file for bankruptcy.
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Learn Moreabout PBS online sponsorshipin our Spotlight on business tonight new jersey-based Johnson and Johnson has agreed to pay nearly 9 billion dollars to settle thousands of lawsuits claiming its talc products including baby powder cause cancer that's about four times the amount the pharmaceutical company originally agreed to J J says it'll pay it by once again trying to file for bankruptcy a previous attempt to use chapter 11 bankruptcy protection to resolve the talc lawsuits was rejected by an appellate court and met with sharp criticism from attorneys for the patients this time though the settlement amount would be transferred to a subsidiary and payable over the next 25 years although it stopped Global Production of the talc products jnj is still pushing back on the allegations saying a settlement doesn't constitute an admission of wrongdoing support for the business report provided by New Jersey American Water we keep life flowing online at newjerseyamwater.com [Music]
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS