J&J has enough support for $6.5 bln talc settlement

Johnson & Johnson may have cleared a major hurdle for its $6.5 billion settlement over lawsuits related to its baby powder and other items with talc.

The lawsuits allege that those products cause cancer. According to a report from Bloomberg on Monday, over 75% of claimants support the proposed settlement, meeting J&J's requirement for its third attempt to use bankruptcy protection to settle the lawsuits.