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Johnson & Johnson creates $5.5B fund to settle baby powder lawsuits

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Johnson & Johnson has offered to pay as much as $5.5 billion to settle thousands of baby powder lawsuits.

J&J has denied that its talc-based products caused cancer. However, it has changed the formula used in its baby powder.

Erik Haas, the firm's vice president of litigation, said the allegations are "meritless" and the company has agreed to settle to resolve the matter.

Read more from BBC News.

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