Johnson & Johnson has offered $9 billion to resolve talc lawsuits.

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Johnson & Johnson has proposed to pay almost $9bn to resolve tens of thousands of lawsuits it faces in North America

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that claim its baby powder and other talc-based products cause cancer.

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The healthcare giant said it still believed the claims were "specious"

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but was hoping the new settlement offer would help conclude its legal battle.

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The figure marks a big boost over the $2bn it had proposed previously.

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The new offer has significant support from people tied to the case, it said.

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The company is facing more than 40,000 lawsuits from former customers who say using its talc-based baby powder caused cancer,

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including some who allege the product contained cancer-causing asbestos.

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It stopped US sales of its talc-based baby powder in 2020, citing "misinformation" that had sapped demand for the product,

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applied to prevent nappy rash and for other cosmetic uses, including dry shampoo.

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The company has been trying to resolve the lawsuits in bankruptcy court since 2021,

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after creating a subsidiary responsible for the claims.

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"The company continues to believe that these claims are specious and lack scientific merit," said Erik Haas,

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worldwide vice president of litigation for Johnson & Johnson.

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"Johnson & Johnson said it had won a majority of the talc lawsuits against it.

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But it has been stuck with some significant losses,

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including one decision in which 22 women were awarded a judgment of more than $2bn.

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In March, the ISM manufacturing PMI dropped to a 21-month low of 46.3.

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