Johnson & Johnson offers up to $5.5bn to settle baby powder lawsuits

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, external that the allegations are "meritless" and that J&J was willing to settle in order to finally resolve the matter.J&J said the settlement would cover about 69,000 cases, totalling most of the remaining talc-related claims. The firm 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&J said.Haas said in a statement that the company is confident that it would have "ultimately prevailed with further litigation" just as it has in the majority of ...