Overwhelmed J&J Talc Supplier Takes Cover Under Bankruptcy Protections
“It is simply not in the best interests of our stakeholders to litigate these claims in perpetuity,” says Imerys Talc America President Giorgio La Motta of the company’s decision to reorganize its business and debts under Chapter 11 in negotiation with claimants in cosmetic talc-related suits.
You may also be interested in...
Plaintiffs’ attorneys blast J&J for reportedly considering weaseling out of its fiscal responsibilities by reorganizing its business away from talc liabilities, which could draw out tort proceedings and significantly reduce plaintiff awards, they suggest.
Recall announcement doesn't mention litigation J&JU faces in multiple states alleging use of Johnson's Baby Powder causes cancer due from talc in formulation. But firm's sensitivity to consumer complaints or adverse event reports linked to brand is clear with talc-related litigation as backdrop.
Tylenol brand boosts J&J US OTC sales 8.4% to $477m, helping balance a 24.1% decline in baby care sales due to restocking reformulated Johnson’s Baby line in 2018, mostly in the US. Firm reports consumer health sales in the US were up 1.7% to $1.39bn.