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That would cap its liability for all existing and future talc claims at the $8 billion it agreed to place in a settlement trust. J&J agreed to fund the proposed settlement trust over 25 years.
In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023, in San Anselmo, California. Talc is a mineral comprised of mainly magnesium, silicon and ...
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The company stopped selling talc-based baby powder in favor of cornstarch-based products, citing an increase in lawsuits and "misinformation" about the talc product's safety.
For the fiscal year 2023, Johnson & Johnson reported earnings of $35.15 billion, with an annual revenue of $85.16 billion, an increase of 10.57% over the previous fiscal cycle. Johnson & Johnson's shares traded at over $160 per share, and its market capitalization was valued at over $386.7 billion in July 2024. [125]
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Johnson & Johnson (NYSE: JNJ) is exploring a plan to offload liabilities from its Baby Powder litigation into a newly created business that would then seek bankruptcy protection, Reuters reports.