Johnson & Johnson said it would pay an estimated $5.5 billion to resolve lawsuits alleging its baby powder and other talc products cause ovarian cancer, according to CNBC.
Key facts
- Johnson & Johnson announced the deal on Monday, according to CNBC.
- The company estimates it will pay $5.5 billion.
- The settlement resolves lawsuits alleging its baby powder and other talc products cause ovarian cancer.
- CNBC reported the deal could end roughly a decade of litigation.
Johnson & Johnson said Monday it would pay an estimated $5.5 billion to resolve lawsuits alleging that its baby powder and other talc products cause ovarian cancer, according to CNBC.
Plaintiffs have alleged that the talc-based products are linked to ovarian cancer. CNBC described the agreement as one that could bring an end to litigation spanning roughly a decade.
Further details of the settlement, including its terms and how many claims it covers, were not specified in the available reporting.
Why it matters
A settlement of this size could provide resolution for claimants and remove a long-standing legal overhang for Johnson & Johnson, according to CNBC's reporting.
Frequently asked questions
How much will Johnson & Johnson pay?
The company said it would pay an estimated $5.5 billion to resolve the lawsuits, according to CNBC.
What did the lawsuits allege?
The lawsuits alleged that J&J's baby powder and other talc products cause ovarian cancer.
When was the deal announced?
Johnson & Johnson announced the settlement on Monday, according to CNBC.