Johnson & Johnson has reached a tentative settlement to resolve investigations by more than 40 states into whether the company misled patients about the safety of its talc baby powder and other talc-based products.
The settlement does not resolve the tens of thousands of lawsuits, some of which are slated to go to trial this year, alleging that those talc-based products caused cancer.
J&J CFO Joseph Wolk told The Wall Street Journal that the company will pay $700 million to settle states’ claims.