J&J hopes for deal with third talc settlement [Yahoo! Finance]
Johnson & Johnson (JNJ)
Last johnson & johnson earnings: 4/14 06:31 am
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Source: Yahoo! Finance
The pharmaceutical giant said it was offering $6.475bn (£5.2bn) over 25 years to former customers with ovarian cancer claims. Those represent the vast majority of the more than 59,000 lawsuits it faces. In all, it said it was now setting aside about $11bn (£8.8bn) to address the talc litigation. This is the third settlement offer Johnson & Johnson has put forward to try to address the claims from former customers, which have weighed on the company's reputation and stock price. It said none of the cases against it had "merit" but it was now seeking votes of support for the proposal from its opponents in the hope of ending the litigation. Last year, it proposed to pay nearly $9bn (£7.2bn) for a more comprehensive deal, which would have addressed lung cancer and mesothelioma claims, as well as litigation from state attorneys general in the US. The company said it was working separately to resolve those matters and had addressed 95% of the mesothelioma claims. It also annou
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JNJ
Earnings
- 4/16/24 - Beat
JNJ
Sec Filings
- 5/15/24 - Form 424B2
- 5/14/24 - Form FWP
- 5/14/24 - Form 424B5
- JNJ's page on the SEC website