(Reuters) -Johnson & Johnson plans to pay an additional $1.1 billion to resolve thousands of legal actions alleging its baby powder and other talc products caused cancer, according to two people familiar with the matter.
J&J (NYSE:JNJ) said on Wednesday that it has secured 12,000 more votes in favor of its talc settlement plan after winning over a longtime opponent of the company’s proposed settlement.
J&J previously announced a plan to pay $8 billion over 25 years to settle the lawsuits. The company declined to comment on the increase.
The new settlement terms have recently won support from Allen Smith, a tort lawyer who, along with another firm, jointly represents roughly 12,000 claimants.
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