![107408640 17145621501714562147 34345465475 1080pnbcnews Johnson & Johnson will pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.](https://i0.wp.com/image.cnbcfm.com/api/v1/image/107408640-17145621501714562147-34345465475-1080pnbcnews.jpg?w=650&ssl=1)
Johnson & Johnson on Wednesday said it will pay $6.5 billion to settle nearly all of the thousands of lawsuits in the U.S. claiming its talc-based products caused ovarian cancer.
The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.
It will begin a three-month voting period for claimants, in hopes of reaching a consensus on a settlement of all current and future ovarian cancer claims. About 99% of the talc-related lawsuits filed against J&J and its subsidiaries stem from ovarian cancer.
J&J said the remaining pending lawsuits relate to a rare cancer called mesothelioma and will be addressed outside of the new settlement plan.
The pharmaceutical giant said it has already resolved 95% of mesothelioma lawsuits filed to date.