J&J Agrees To Pay $75 Mln In Mississippi's Baby Powder Case

(RTTNews) - Drug manufacturer, Johnson & Johnson (JNJ), Thursday said that it will pay $75 million to settle a lawsuit filed by Mississippi related to baby powder.

The decision comes as the state attorney general's office was preparing for a non-jury trial against J&J next month. The case filed by the state, demanding $6 billion in damages, accused J&J of failing to inform customers about the powder's alleged cancer risk for over 50 years.

However, J&J argued that federal regulators had not mandated a cancer warning on the bottle, while maintaining that its talc-based products don't cause cancer.

Currently, J&J's stock is trading at $158.54, up 0.38 percent on the New York Stock Exchange.