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...Late on Friday, a New Jersey bankruptcy court ruled that the big pharma company could not pursue a bankruptcy deal with tens of thousands of consumers who claim its talc powder caused serious illness....
...interview that the south-east and Manchester were attractive target areas because “the south-east has 9mn people and the highest income per resident outside London, and Manchester is the second largest metropolitan...
...This represented a second attempt to resolve thousands of claims for the alleged carcinogenic properties of talc powder. The first case was dismissed earlier this year....
...LTL, the unit created by J&J to house the talc claims, would again file for bankruptcy in order to facilitate the settlement, the company said....
...The company is eager to resolve the uncertainty regarding the talc claims before it spins off its consumer health division in coming months....
...The company has said its talc is asbestos free and had not caused cancers but argues that settling current and future claims in the bankruptcy system would be preferable to fighting talc claims in the courts...
...Johnson & Johnson, one of the world’s largest healthcare companies, is facing thousands of lawsuits from people alleging they got cancer from using one of their oldest products: talc-based baby powder....
...But when a Missouri court ordered J&J to pay more than $2bn to a group of nearly two dozen women who claimed their cancer was caused by its talc, the company adjusted its strategy....
...Claimants allege that J&J’s talc-based baby powder contains traces of asbestos that caused their cancers and the company had lied about the safety of the product....
...The Metropolitan Police said on Monday it had received a report of an alleged sexual assault in 2003 following the allegations of sexual offences....
...This includes a new design section of seven studios, such as Mumbai’s Atelier Ashiesh Shah and the specialist wallpaper and fabrics company de Gournay....
...J&J created offshoot LTL to contain liabilities potentially costing billions for allegedly carcinogenic talc powder....
...The company, which was purchased by French billionaire Patrick Drahi in 2019 for $3.7bn, is acquiring the building in a deal worth roughly $100mn, said two people with knowledge of the matter....
...Mentioned in this podcast: UK to design ‘digital pound’ that could fend off a future private tech rival Google reveals plans for chatbot ‘Bard’ as AI tech race heats up Talc ruling a blow to the ‘Texas...
...Toyota is far from the only company investing in the technology. Nissan and Honda have their own programmes....
...In addition to the personal injury cases in bankruptcy court, some states have also sued, alleging the company marketed and sold its talc to consumers despite knowing it was sometimes tainted with cancer-causing...
...In October J&J put into bankruptcy an affiliate with liabilities for thousands of lawsuits tying talc-based products to cancer. Recent demergers have been patchy....
...A version of this article was first published by Nikkei Asia on March 23, 2023. ©2023 Nikkei Inc. All rights reserved....
...Clay Thompson, a lawyer who represents claimants who allege J&J’s baby talc caused their cancers, says the bankruptcy scheme deployed by the company had delivered a “financial windfall” to shareholders,...
...The report by commercial property adviser Cushman & Wakefield found that 330mn sq ft of office space — roughly equivalent to all the office inventory in the Washington metropolitan area — would be made redundant...
...Earlier in the week, Tokyo governor Yuriko Koike told an assembly meeting that the metropolitan government would potentially seek compensation from companies found to have rigged bids around the Olympics...
...Since 2005, the population of the Monterrey metropolitan area has grown more than 40 per cent. “Mexico won, [Nuevo León] won, we all won!”...
...It is the reaction Hindenburg, which profits when the price of bonds and equities linked to a company go down, was hoping for....
...It argued LTL’s bankruptcy filing was justified due to the severe threat posed to the company’s finances from the talc claims....
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