S. states and Washington, D.C. regarding the company's marketing of talc-based products, including baby powder. The investigation alleged that these products may have contributed to the development of cancer in some consumers.

The settlement puts an end to charges that Johnson & Johnson misled the public into believing that their talc products were safe, despite evidence to the contrary. The company, based in New Brunswick, New Jersey, did not admit any wrongdoing as part of the settlement, maintaining that their talc products are free from any cancer-causing agents.

Led by Florida, North Carolina, and Texas, the states involved in the settlement announced the agreement with Johnson & Johnson. The settlement, originally proposed in January, marks a significant step towards resolving the legal issues surrounding the talc products.

However, it should be noted that Johnson & Johnson still faces an overwhelming number of talc-related lawsuits, with approximately 61,490 individuals currently suing the company. Most of these lawsuits are from women suffering from ovarian cancer, while a smaller number are from individuals suffering from mesothelioma, a type of cancer linked to asbestos.

Last year, Johnson & Johnson stopped the global sale of talc-based baby powder and instead began using corn starch as the primary ingredient in their products. The company has consistently maintained that their talc products are asbestos-free and do not pose any health risks.

To handle the mounting litigation, Johnson & Johnson attempted to place a subsidiary responsible for talc liabilities into bankruptcy. However, their efforts were rejected by the courts on two occasions. Most recently, on May 1, the company proposed a $6.48 billion settlement to handle the majority of the lawsuits through a third bankruptcy filing. In anticipation of the legal battle, Johnson & Johnson has reserved $11 billion to cover all talc-related liabilities.

Erik Haas, J&J Worldwide Vice President of Litigation, emphasized that the company is committed to reaching a comprehensive resolution for the talc litigation. While the proposed bankruptcy resolution serves as a potential solution, Johnson & Johnson remains prepared to address the claims of those who wish to pursue litigation or settle independently.

The settlement signifies a significant step in the legal proceedings surrounding Johnson & Johnson's talc products, but the company still faces an uphill battle as it navigates through the remaining lawsuits and seeks a conclusive resolution for all parties involved.