Johnson & Johnson Rejects Imerys Talc America Bankruptcy Plan to Settle Cancer Claims
THE UNITED STATES - According to a news report on WSJ.com, Johnson & Johnson is opposed to Imerys Talc America's proposed bankruptcy plan to resolve talc ovarian cancer lawsuits. Imerys Talc America, a former talc supplier of Johnson & Johnson, is ramping up its efforts to escape thousands of talc cancer lawsuits against its U.S. mining operation. However, health-care giant Johnson & Johnson is protesting Imerys Talc America's bankruptcy plan because Johnson and Johnson think their bankruptcy plan will permit people with talc cancer claims to determine their compensatory damages.
Imerys talc-mining operation, which used to supply talc for Johnson's Baby Powder, has been named a defendant in thousands of lawsuits alleging talcum powder products cause cancer. The company was placed into Chapter 11 bankruptcy protection back in 2019, and then the company was sold in 2020 for about $220 million, with the funds of the sale set aside in a trust to compensate talc-related cancer claims. The company is now attempting to obtain the court's permission to seek creditor approval for its bankruptcy repayment plan.
Johnson & Johnson has denied liability for talc ovarian cancer claims, and the company is vigorously defending itself against the lawsuits. Johnson & Johnson says that Imerys Talc's Chapter 11 bankruptcy plan is an improper attempt by the talc-mining company to immunize itself from liability while making the process easier for cancer victims to file lawsuits against Johnson & Johnson.
According to a lawyer for Johnson & Johnson quoted in the news article, Johnson & Johnson believes in its products' safety.
In a company statement, a spokeswoman for Imerys Talc stated that the company maintains the proposed Chapter 11 plan will provide a clear and comprehensive path forward to resolve its talc-related liabilities.
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