Johnson & Johnson's Subsidiary Files for Chapter 11 Bankruptcy to Resolve Talc Litigation

Details

The bankruptcy plan, supported by approximately 83% of current claimants and the Future Claims Representative, proposes a settlement of approximately $8 billion. The Company has increased its contribution to the settlement by $1.75 billion.

Items reported

Exhibits (1)

About Johnson & Johnson

Johnson & Johnson is a multinational corporation engaged in the research, development, production, and sale of a broad range of healthcare products. Primarily known for its pharmaceuticals, medical devices, and consumer health products, Johnson & Johnson has a significant presence in the global healthcare industry. It develops medications for a variety of fields such as immunology, oncology, neurology, infectious diseases, and vaccines. The company also produces a wide array of medical devices for surgery, orthopedics, and cardiovascular health. In addition to pharmaceuticals, Johnson & Johnson is renowned for its consumer health products, including baby care, skin and hair care, wound care, and over-the-counter pharmaceuticals, with well-recognized brands like Band-Aid, Tylenol, and Neutrogena. Operating globally, the corporation's extensive portfolio and commitment to healthcare innovation make it a pivotal player in the industry, ensuring it remains influential in addressing worldwide health challenges and advancing medical technology.