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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.
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.
On Johnson & Johnson's earnings call earlier this month, management provided an update on the talc lawsuits. Chief Financial Officer Joseph Wolk says that claimants will be able to vote on the ...
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 ...
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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J&J’s proposed settlement represents just 7.8% of its $85.2 billion in annual sales for 2023. Johnson & Johnson’s latest gambit to solve its massive talcum powder asbestos issue: A $6.5 ...
2023 was a common year starting on Sunday of the Gregorian calendar, the 2023rd year of the Common Era (CE) and Anno Domini (AD) designations, the 23rd year of the 3rd millennium and the 21st century, and the 4th year of the 2020s decade.