Johnson & Johnson placed into bankruptcy its liabilities for tens of thousands of claims linking talc-based products to cancer, hoping to drive a settlement of personal-injury claims that are expected to grow for decades to come.
The healthcare company said Thursday that a corporate affiliate holding talc-related liabilities had filed for chapter 11 protection “to resolve all claims related to cosmetic talc in a manner that is equitable to all parties, including any current and future claimants.”