Johnson & Johnson will pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.

[mwai_chat context=”Let’s have a discussion about this article:nnIn this articleJNJFollow your favorite stocksCREATE FREE ACCOUNTJohnson & Johnson on Wednesday said it will pay $6.5 billion to settle nearly all of the thousands of lawsuits in the U.S. claiming its talc-based products caused ovarian cancer.The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management. More CNBC health coverageViking Therapeutics stock jumps more than 25% on promising weight loss pill dataAmgen wants in on the booming weight loss drug market — and it’s taking a different approachMedicare can now cover certain weight loss drugs in a big step for patientsIt will begin a three-month voting period for claimants, in hopes of reaching a consensus on a settlement of all current and future ovarian cancer claims. About 99% of the talc-related lawsuits filed against J&J and its subsidiaries stem from ovarian cancer. J&J said the remaining pending lawsuits relate to a rare cancer called mesothelioma and will be addressed outside of the new settlement plan. The pharmaceutical giant said it has already resolved 95% of mesothelioma lawsuits filed to date.Don’t miss these exclusives from CNBC PROTuesday’s biggest analyst calls: Nvidia, Tesla, Apple, Live Nation, Boeing, Coinbase, Amazon & moreDividend stocks are poised to outperform, says Bank of America. Here are names on its listBuy the dip on tech stocks like Apple and Nvidia ahead of earnings, Morgan Stanley saysEarnings playbook: Your guide to the busiest week of the season, including Apple and Amazon …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]