J&J proposes to settle talc cancer lawsuits for $6.5 billion
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Johnson & Johnson has proposed a $6.475 billion settlement to resolve numerous lawsuits, alleging that its talc-based products, including baby powder, contain asbestos and have caused ovarian cancer in users. The settlement is planned to be managed via the bankruptcy filing of a subsidiary firm, initiating a three-month voting period, aimed at settling all ovarian cancer claims. Nearly 99% of the talc-related lawsuits are related to ovarian cancer, with around 54,000 cases consolidated in a New Jersey federal court.