New York, US.
US drug maker has proposed a settlement of $8.9 billion against the claims that the baby powder talc causes cancer. It is suspected that the hint of asbestos present causes ovarian malignant growth. The company said that it will resolve all claims properly. The settlement would require a approval from a bankruptcy court though.
If this settlement is allowed, it would be one of the biggest settlements in the history of the company. The company's Vice President of litigation said that the claims lack scientific merit.
It is to be noted that the company offered a $2 billion settlement previously and was rejected. It also added that the settlement doesn't confirm any bad behavior and the company has not changed its position with respect to the dismissal of these claims without scientific proof.
It is to be waited to see whether the court accepts this settlement.