JNJ - Johnson & Johnson To Pay $700M To Settle Multi-State Talc Investigation | Benzinga
In a significant development, Johnson & Johnson (NYSE:JNJ) has agreed to pay a hefty sum to resolve a multi-state investigation into its talc-based products.
What Happened: The pharmaceutical giant will pay $700 million to settle allegations that its talc products, including baby powder, led to cancer. The investigation was led by 42 U.S. states and Washington, D.C., Reuters reported on Wednesday.
The settlement addresses claims that Johnson & Johnson misrepresented the safety of its talc products, which were sold for over a century before being discontinued. Despite the settlement, the company has not admitted to any wrongdoing.
Florida Attorney General Ashley Moody hailed the settlement as a significant step forward for consumer product safety.
Although ...