12:03 PM EDT, 03/28/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) will pay $75 million to settle a lawsuit accusing it of failing to warn consumers about the alleged cancer risks of the company's talc-based baby powder over a period of almost 50 years, Bloomberg reported Thursday, citing unnamed sources.

The plaintiff, the state of Mississippi, had sought up to $6 billion in the litigation, the report said.

The settlement comes as lawyers for Mississippi and the company were preparing for a non-jury trial in April, the report quoted the sources as saying.

The company didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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