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Johnson & Johnson has agreed to pay USD $8.9 billion (AUD $13.1 b) to the tens of thousands of people who claimed to have developed cancer from its talcum powder products.
The New York Times reported that the pharmaceutical industry company proposed the settlement, which still has to be approved by the bankruptcy court.
If it gets the green light, then the money will be paid over the next 25 years after more than a decade of legal pursuits.
In a statement obtained by the outlet, the group of lawyers representing the 70,000 plaintiffs, including some who are the family members of people who died from ovarian cancer and mesothelioma, called it a ‘landmark’ decision.
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They added it was a ‘significant victory for the tens of thousands of women suffering from gynecological cancers caused by J.&J.’s talc-based products'.
If the court approves the settlement, the $8.9 billion payout would be one of the largest product liability settlements ever in the US.
However, Jason Itkin, whose law firm is handling 10,000 cases involving women claiming that talc-based powders made by the company caused their ovarian cancer, said the settlement ‘was bad for victims’, as per The New York Times.
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“Even though $8.9 billion sounds like a lot of money, when you spread it out it comes out to not very much at all for the people who suffered,” he said.
Johnson and Johnson has maintained its innocence as Erik Haas, the company’s vice president of litigation, believes the cancer claims are ‘specious and lack scientific merit’.
According to the Daily Mail, the company added that the recent settlement proposal isn't 'an admission of wrongdoing, nor an indication that the company has changed its longstanding position that its talcum powder products are safe'.
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They continued: "Nonetheless, resolving this matter as quickly and efficiently as possible its in the best interests of the company and all stakeholders.”
According to the National Cancer Institute, there is a link between Johnson & Johnson’s talcum powder and cancer, as in some cases, it contains asbestos, which is a carcinogen.
Reuters reported that the company knew of these traces of asbestos for years; however, it failed to notify the Food and Drug Administration, resulting in thousands of lawsuits.
While the outlet reports that most people exposed to asbestos don’t develop cancer, even small amounts are enough to cause disease years later.
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Many plaintiffs claim that even the tiny amounts they inhaled when they used their talcum powder were enough to cause cancer.
Charisa Bossinakis