Johnson & Johnson will pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.

Johnson
&
Johnson
on
Wednesday
said
it
will
pay
$6.5
billion
to
settle
nearly
all
of
the
thousands
of
lawsuits
in
the
U.S.
claiming
its
talc-based
products
caused
ovarian
cancer.

The
deal
would
allow
J&J
to
resolve
the
lawsuits
through
a
third
bankruptcy
filing
of
a
subsidiary
company,
LTL
Management. 

It
will
begin
a
three-month
voting
period
for
claimants,
in
hopes
of
reaching
a
consensus
on
a
settlement
of
all
current
and
future
ovarian
cancer
claims. About
99%
of
the
talc-related
lawsuits
filed
against
J&J
and
its
subsidiaries
stem
from
ovarian
cancer. 

J&J
said
the
remaining
pending
lawsuits
relate
to
a
rare
cancer
called
mesothelioma
and
will
be
addressed
outside
of
the
new
settlement
plan. 

The
pharmaceutical
giant
said
it
has
already
resolved
95%
of
mesothelioma
lawsuits
filed
to
date.