Johnson & Johnson (J&J) has offered to pay as much as $5.5bn (£4.14bn) to resolve tens of thousands of lawsuits in the US alleging that its baby powder and other products containing talcum cause ovarian cancer.
The proposed landmark settlement aims to close a long-running legal battle that has weighed on the New Jersey-based healthcare giant for years.
J&J has denied that its talc-based products caused cancer and has changed the formula of its widely used baby powder.
Erik Haas, the firm’s vice president of litigation said on Monday that the allegations are “meritless” and that J&J was willing to settle in order to finally resolve the matter.
J&J said it will offer up to $3bn next year, with no additional payments due before 2028, it said.
The proposal must be accepted by legal firms representing 95% of the ovarian cancer claims in state and federal courts before it can be finalised, the J&
