US pharmaceutical giant Johnson & Johnson (J&J) on Wednesday unveiled a plan to end civil lawsuits in a talc case accused of causing cancer, for which it is willing to pay approximately $6.5 billion (6 billion francs).
“This plan is the culmination of our consensual resolution strategy announced in October,” J&J vice president of legal affairs Erik Haas said in a news release.
“Since that date, the group has worked with the attorneys representing the vast majority of plaintiffs to find a resolution to this dispute, which we anticipate with this plan,” he said.
Under the plan, J&J agreed to pay approximately $6.475 billion over 25 years for complaints related to ovarian problems (99.75% of current complaints).
Plan validated after acceptance by claimants
The other complaints are related to mesothelioma, nicknamed ‘asbestos cancer’, and are treated separately. The group indicates that 95% of them have already found a solution.
The proposed plan provides for a three-month period during which claimants will be notified of its existence. It is validated when 75% accept it.
The group specifies that plaintiffs’ attorneys who helped develop it “support” it.
In electronic trading before the opening of the New York Stock Exchange, J&J shares rose 2.87%.
Carcinogenic talc
The talc has been accused of containing asbestos and causing ovarian cancer. Which he continues to refute even though he has pulled it from the North American market.
“The talc complaints against the group demonstrate the incredible impact of baseless lawsuits against American companies and the extreme verdicts obtained by the plaintiffs,” denounced Erik Haas, who denounced the “distortion of scientific studies by a science of junk.” denounced.
A summary of studies published in January 2020 among 250,000 women in the United States found no statistical association between the use of talc on the genitals and the risk of ovarian cancer.
In the 1970s, concerns arose about the contamination of talc by asbestos, which is often close in nature to the ores used to make talc.
The group proposed an $8.9 billion settlement in April 2023, which was greenlit by more than 60,000 plaintiffs. But a bankruptcy judge threw it out.
At the same time, Johnson & Johnson announced on January 23 an agreement in principle with a consortium of prosecutors from 43 states in the United States, in the context of the same talc affair.
No amount was officially stated, but American media reported at the time as much as $700 million.
afp/juma
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