The company continues to maintain that the products are safe, but hopes that the proposed settlement could help bring the litigation to a swift conclusion.
The figure, which will be paid over 25 years, is a huge increase from the original $2bn that J&J previously committed and reportedly has significant support from current claimants.
Erik Haas, worldwide vice president of litigation at J&J, said: « Resolving this matter through the proposed reorganisation plan is both more equitable and more efficient, [and] allows claimants to be compensated in a timely manner…”
