US cosmetics and pharmaceutical giant Johnson & Johnson has set aside $3.9B US for litigation expenses, which it says are “primarily associated with talc-related reserves and certain settlements”.
The company is facing a myriad of lawsuits as former users of its baby powder products claim that the company’s talcum powder contained asbestos and caused cancer, according to security filings from Monday.
Johnson & Johnson, based out of New Brunswick, NJ, said in November it would set aside US $2.1 billion for the verdicts of the court cases.
The company has faced ongoing scrutiny over the safety of its products, particularly its baby powder, after a report in 2018, revealed that the company had known for decades that the talc contained asbestos.
From 1971, internal company records and testimonies show that they were aware of small amounts of asbestos in the end products sold to consumers.
It comes on the back of two significant damages payments – one in Missouri and one in Brooklyn – after women blamed their cancers on exposure to asbestos via Johnson & Johnson products.