The company agreed to pay nearly $9 billion to settle lawsuits accusing its talc baby powder of causing cancer.& Johnson is trying once again to use the bankruptcy courts to settle tens of thousands of cases that claim its talc products cause cancer. The pharmaceutical company is now willing to pay $8.
& Johnson's worldwide vice president of litigation, in a statement. "However, as the bankruptcy court recognized, resolving these cases in the tort system would take decades and impose significant costs on LTL and the system."
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