Johnson & Johnson has created a subsidiary to manage thousands of legal claims alleging its talc caused cancer and placed it into Chapter 11 bankruptcy, in a move critics say is aimed at limiting future payouts.
The New Jersey-based drugmaker said on Thursday the filing by its subsidiary, LTL Management, was intended “to resolve all claims related to cosmetic talc in a manner that is equitable to all parties, including any current and future claimants”.
However, legal experts said the manoeuvre could potentially put a stay on pending cases, prevent juries from awarding big payouts to plaintiffs and pressure cancer sufferers into accepting settlements.
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