Johnson & Johnson has said it would provide a fair amount of money to the subsidiary to pay claims.
Johnson & Johnson, valued at more than $450 billion, had about $31 billion in cash and marketable securities on hand at the end of the third quarter, securities filings show.
One would absorb all the talc liability; the other would carry on the business free from the threat of billion-dollar judgments.
Levesque replied that the “technical aspect” of the subsidiary bankruptcy wasn’t likely to cause concern about J&J’s creditworthiness.
Is that what you're saying?” asked Jeffrey Jonas, a Brown Rudnick lawyer representing a creditors committee comprising talc plaintiffs.
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