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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.
The previous bankruptcy filings put the talc litigation on hold from 2021 to 2023, but trials have resumed after a federal judge ruled the latest bankruptcy case should be dismissed in July 2023.
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.
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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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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