Johnson & Johnson offers $5.5B to settle baby powder cancer lawsuits

Johnson & Johnson has set aside $5.5 billion to resolve tens of thousands of U.S. lawsuits alleging that its talcum powder-based products caused ovarian cancer. The New Jersey-based drugmaker has been fighting talc-related lawsuits for more than a decade and said the settlement was a last-ditch effort to put the matter to bed.