Johnson & Johnson will pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.

Johnson & Johnson on Wednesday stated it will pay $6.5 billion to settle nearly all of the 1000’s of lawsuits in the U.S. claiming its talc-based merchandise brought on ovarian cancer.

The deal would enable J&J to resolve the lawsuits by means of a 3rd chapter submitting of a subsidiary firm, LTL Management. 

It will start a three-month voting interval for claimants, in hopes of reaching a consensus on a settlement of all present and future ovarian cancer claims. About 99% of the talc-related lawsuits filed towards J&J and its subsidiaries stem from ovarian cancer. 

J&J stated the remaining pending lawsuits relate to a uncommon cancer known as mesothelioma and will be addressed exterior of the brand new settlement plan. 

The pharmaceutical large stated it has already resolved 95% of mesothelioma lawsuits filed to date.