Johnson & Johnson subsidiary seeks bankruptcy protection to handle talc product claims – .

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Johnson & Johnson subsidiary seeks bankruptcy protection to handle talc product claims – .


The subsidiary, LTL Management, will now bear the brunt of the claims, the company said. Johnson & Johnson itself and its other affiliates have not filed for bankruptcy and “will continue to operate as usual,” he said.

John Kim, LTL’s general counsel, said in a statement that with the financial support of the parent company, the subsidiary was “confident that all parties will be treated fairly in this process.”

Johnson & Johnson said its filing was “not a concession of liability but rather a means of achieving a fair and effective resolution of the claims raised in the cosmetic talc litigation”.

Although it has prevailed in some cases, the company has suffered significant losses in court compared to other claims. In June, a Missouri appeals court ordered the company to pay $ 2.1 billion in damages to women who said the company’s talc products, including its powder for baby, had caused their ovarian cancer.

In 2018, Johnson & Johnson was ordered to pay $ 4.69 billion to 22 women and their families, who said they developed ovarian cancer from the asbestos in talcum powder products the company.

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