ST. LOUIS — Johnson & Johnson is offering to pay nearly six and a half billion dollars in a settlement deal. The settlement deal aims to resolve lawsuits alleging that Johnson and Johnson’s “baby powder” products cause ovarian cancer. Johnson & Johnson deny all claims.
Ovarian cancer claims account for 99% of J & J’s lawsuits. If 75% of the lawsuits’ petitioners approve the deal, Johnson and Johnson may file a “pre-packaged” Chapter 11 bankruptcy. The company would pay out the settlement over 25 years.
