Johnson & Johnson agrees to Rs 542 Billion payout over baby powder Cancer claims

Johnson & Johnson announced a proposed $6.48 billion settlement for tens of thousands of lawsuits alleging that its talc products, including baby powder, contain asbestos and cause ovarian cancer.

The settlement aims to resolve the majority of ovarian cancer claims, which make up 99% of the lawsuits against the company, including approximately 54,000 cases centralized in a New Jersey federal court. Despite two previous unsuccessful attempts to resolve the lawsuits through bankruptcy filings of a subsidiary, J&J is initiating a three-month voting period to garner consensus on the settlement.

While J&J maintains that its products are asbestos-free and do not cause cancer, it faces a significant legal battle and public scrutiny regarding the safety of its talc products. The proposed settlement, if approved, would mark a significant step towards resolving a substantial portion of the ongoing litigation.

 However, past legal challenges regarding the company's eligibility for bankruptcy protection highlight the complexities and hurdles J&J faces in reaching a resolution. Nevertheless, the company expresses confidence in the support from the majority of plaintiffs' attorneys, signaling a potential path forward in addressing these longstanding legal issues.