The United States Supreme Court denied the appeal of Johnson & Johnson on the $2.1 billion payment to women who claimed its baby powder had materials that cause cancer, Bloomberg reported.
- The Supreme Court denied an appeal on a St. Louis ruling which found that J&J’s talc-based powder may have caused ovarian cancer among 20 women.
- The St. Louis ruling granted $25 million to each woman in compensatory damages, and over $4 billion in punitive damages.
- Such ruling was reduced by an appellate court in 2020.
- J&J in February said it prepared some $4 billion for the verdict, but the firm faces over 26,00 lawsuits similar in nature.
- J&J Spokeswoman Kim Montagnino said the decision to “not review” the case leaves unresolved legal questions that will hound courts in the future.
- “The Supreme Court has many times said its decision to deny hearing a case expresses no view on the merits,” she said.
- A lawyer for the women welcomed the ruling, saying 20 families will get compensated for the disease triggered by J&J.
JNJ: NYSE is down 1.86%.