Bussiness
Here’s how much each state will receive from the $700 million Johnson & Johnson settlement
Dozens of U.S. states, including Texas, North Carolina and Florida, are expected to receive money by the end of July from the recent $700 million settlement with Johnson & Johnson over its talc-based body and baby powder safety claims.
Texas, which will receive over $61.5 million as part of the settlement, helped lead the multistate litigation against the pharmaceutical giant claiming the talc ingredients in its products caused mesothelioma, ovarian cancer and other serious health issues. Each state will be paid out in four installments over four years, beginning July 30.
“We have reached a landmark settlement with Johnson & Johnson ensuring that the company will abide by the law and take effective steps to protect consumers from potentially hazardous ingredients,” Texas Attorney General Ken Paxton said Tuesday in a statement. “I’m proud to lead this coalition of 43 attorneys general to stand up for consumers’ health and truth in marketing.”
Paxton was joined by 42 other attorney generals from around the U.S. in the legal effort.
“Consistent with the plan we outlined last year, the company continues to pursue several paths to achieve a comprehensive and final resolution of the talc litigation,” Erik Haas, worldwide vice president of litigation for Johnson & Johnson, said in a statement emailed to USA TODAY on Wednesday.
“That progress includes the finalization of a previously announced agreement that the company reached with a consortium of 43 State Attorneys Generals to resolve their talc claims. We will continue to address the claims of those who do not want to participate in our contemplated consensual bankruptcy resolution through litigation or settlement.”
How much will each US state receive from the $700 million settlement?
Here is how much each U.S. state will receive from the $700 million settlement, pending court approval. Johnson & Johnson will pay $175 million per year over the four years, according to court records.
Contributing: Bayliss Wagner/ Austin American-Statesman and Minnah Arshad/ USA TODAY