J&J’s Talc Subsidiary Not ‘Financially Distressed’ Enough For Bankruptcy – Third Circuit
Executive Summary
The J&J company holding the firm’s liabilities relating to talc litigation, which declared bankruptcy in 2021 shortly after its formation, had its Chapter 11 petition denied by the Third Circuit on 30 January. Attorneys weigh in on the implications for J&J and wider industry.
You may also be interested in...
J&J Has Kenvue IPO Roadshow In One Lane, Potentially Long Road For Talc Litigation In Other
Roadshow stated for IPO planned for before end of 2023 of 151.2m shares of Kenvue common stock currently expected at between $20 and $23 per share. Analysts positive on IPO but caution launch wouldn’t come problem-free.
In Talc Litigation On ‘Baseless Scientific Claims,’ J&J Says Settlement Offers Plaintiffs 'Certainty’
Firm reiterates stance on safety of talc as it reports 7.4% Q1 growth in consumer health product sales contributes to earnings guidance boost. It reports $3.85bn consumer health sales with US sales up 11.4% to $1.74bn and international sales 4.4% to $2.12bn.
J&J Adds $6.9bn To Talc Settlement Proposal To Smooth Path To Kenvue Consumer Spinoff
Firm proposes larger funding agreement to settle North American talc claims, apparently pivoting from appealing to Supreme Court a January circuit court decision upholding bankruptcy court ruling that its LTL subsidiary isn’t “financially distressed” enough to file for Chapter protection.