Johnson & Johnson allows US$3.9 billion to settle talc suits

Johnson & Johnson allows US$3.9 billion to settle talc suits

THE WHAT? Johnson & Johnson has created a pot of US$3.9 million to settle numerous talc suits, according to a report published by Asbestos.

THE DETAILS The US FMCG manufacturer has been named in some 25,000 lawsuits surrounding its talc products.

The amount, which was revealed in a regulatory filing, per Asbestos, is double the amount that the company behind Aveeno and Clean and Clear, reported in its financial results for FY2020 as being set aside for this purpose.

THE WHY? The company explained in the filing, per Asbestos, “The company continues to believe that it has strong legal grounds for the appeal of this verdict, as well as other verdicts that it has appealed. Notwithstanding the company’s confidence in the safety of its talc products, in certain circumstances the company has and may settle cases.”

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