Johnson & Johnson sets aside almost $4 billion for talc verdict
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(Reuters) – Drugmaker Johnson & Johnson set aside $3.9 billion in litigation expenses in 2020, which it said was “primarily associated with talc-related reserves and certain settlements”.
The company faces 25,000 lawsuits by former users of its baby powder who say asbestos-laced talc in the product caused their cancers, it said in a securities filing here on Monday.
The figure is nearly double the $2.1 billion the company, based in New Brunswick, New Jersey, said in November it would set aside for talc verdicts.
Johnson & Johnson has faced intense scrutiny over the safety of its baby powder following a 2018 Reuters report here that found it knew for decades about asbestos in the talc.
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