New York CNN —Johnson & Johnson is trying once again to use the bankruptcy courts to settle tens of thousands of cases that claim its talc products cause cancer.
The pharmaceutical company is now willing to pay $8.9 billion to plaintiffs over 25 years.
A previous attempt to use Chapter 11 bankruptcy protection to resolve the talc cases was rejected by an appellate court, which ruled the company couldn’t go bankrupt because it wasn’t in financial distress.
Johnson & Johnson has long held that talcum powder products are safe to use.
Although J&J claims it has won the majority of its talc lawsuits, juries have awarded some customers billions of dollars in damages, siding with claimants’ arguments that the company’s talc products caused their cancer.
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