02:56 PM EDT, 08/12/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) took a key step in advancing a $6.5 billion plan to resolve thousands of lawsuits from plaintiffs, Bloomberg reported Monday, citing people familiar with the matter.

Over 75% of the people, who said they got cancer from the company's baby powder, approved J&J's proposal through secret balloting that ending in late July, sources told Bloomberg. This would aid the company's effort to limit the liability to a unit it created as part of the effort to resolve the lawsuits.

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