Johnson & Johnson has announced a settlement of nearly $9 billion to cover thousands of lawsuits alleging that its baby powder containing talc caused cancer. The settlement, which is more than quadruple the amount previously set aside, is one of the largest product-liability settlements in U.S. history and will be payable over the next 25 years. The company has been adamant that its products are safe, but has decided to settle the cases in order to avoid the costs and risks associated with a prolonged legal battle.
