US pharmaceutical group Johnson & Johnson has agreed to pay about $700 million over the sale of talc in the United States, which is accused of causing cancer.
The company's chief financial officer, Joseph Volk, was quoted by Wall Street on Tuesday as saying the tentative agreement with the attorney general's offices of most US states is a “significant step” for the company. magazine. The pharmaceutical company, which says the deal is not an admission of guilt, continues to insist that its talc-based powders do not contain asbestos and are not carcinogenic.
About forty US states have launched investigations into the marketing of talc-based products. New Mexico and Mississippi have sued Johnson & Johnson for violating consumer protection laws.
However, this proposed settlement with the states concerned only part of the dispute regarding the safety and marketing of the group's talcum powders.
It did not settle personal injury lawsuits filed against J&J by more than 52,000 plaintiffs in various U.S. courts.
“J&J may have to spend billions more to settle the broader dispute,” says the Wall Street Journal.
In 2023, the company offered to pay at least $8.9 billion to settle personal injury lawsuits under a bankruptcy plan filed by a subsidiary, but a bankruptcy judge rejected that plan. Analysts estimate the final cost of the settlement could be between $10 billion and $15 billion.
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