J&J subsidiary proposes paying about $6.48B over 25 years to settle talc ovarian cancer lawsuits

A subsidiary of Johnson & Johnson is now proposing paying approximately $6.48 billion over 25 years as part of a settlement in the U.S. to cover allegations that its baby powder containing talc caused ovarian cancer. J&J said that the reorganization plan for the subsidiary that was being announced on Wednesday was significantly different from the previous reorganization that was announced. Those differences include a three-month solicitation period during which ovarian claimants can vote for or against the plan. This is something that was denied in prior bankruptcy cases, the company said.