J&J Sets Aside Almost $4 Billion for Talc Verdict, Accords (1)
By Jef Feeley
Feb. 23, 2021, 1:31 AM
Johnson & Johnson said it set aside almost $4 billion to cover the biggest verdict against the company over its Baby Powder and other settlements while it’s appealing the 2018 loss to the U.S. Supreme Court.
In a Monday securities filing, J&J said it was taking a “litigation expense of $3.9 billion” related to ‘primarily talc-related reserves and certain settlements.” It also said J&J now faces 25,000 lawsuits by former Baby Powder users who claim asbestos-laced talc in the product caused their cancers. That’s almost a 39% jump in the number of cases from last year.
