Johnson & Johnson has boosted to more than $8.2 billion its offer to settle thousands of lawsuits by people who say its baby powder gave them cancer, according to people familiar with the matter.

Johnson & Johnson (NYSE:JNJ) has raised its offer to settle thousands of lawsuits alleging its baby powder caused cancer to over $8.2B, people familiar with the matter told Bloomberg, compared to its previous proposal of $6.

J&J recently garnered support from more than 75 per cent of baby powder claimants for an out-of-court deal that includes claims that the talc-based version caused ovarian and other gynecological cance

Johnson & Johnson said it received overwhelming support for a roughly $8 billion settlement of claims that its talc-based baby powder caused cancer, a key step as the company makes its third attempt to resolve thousands of lawsuits in bankruptcy court.

Johnson & Johnson said it received overwhelming support for a roughly $8 billion settlement of claims that its talc-based baby powder caused cancer, a key step as the company makes its third attempt to resolve thousands of lawsuits in bankruptcy court.

“Absent a Chapter 11 resolution, the talc litigation would continue for decades, at great expense to the Debtor but with no benefit to claimants,” the J&J unit’s lawyers said in court papers. Under its latest plan, baby powder victims would receive average payouts ranging from $75,000 to $175,000 depending on the severity of their injuries.