Report: J&J exploring bankruptcy plan for talc liabilities

Johnson & Johnson is exploring a plan to put its liabilities from widespread Baby Powder litigation into a newly created business that would file for bankruptcy, people familiar with the matter told CNBC.

The move reportedly could result in lower payouts for cases that do not settle beforehand.

J&J has faced myriad legal challenges over allegations that its talc products contained asbestos and caused cancer.

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