Proposed Talc agreement offers path to resolution

Research evidence excerpt

Proposed Talc agreement offers path to resolution

Update

July 28, 2026 01:20 AM GMT

Morgan Stanley & Co. LLCMJohnson & Johnson | North America Terence C Flynn, Ph.D.

Equity Analyst

Proposed Talc agreement offers Terence.Flynn@morganstanley.comAlexander Yevdokimov, Ph.D. +1 212 761-2230

Research Associate

Alexander.Yevdokimov@morganstanley.com +1 212 761-2167

path to resolution Chris Yu, J.D., Ph.D.

Chris.L.Yu@morganstanley.com +1 212 761-2535

JNJ announced on 7/27/2026 that it reached an agreement with the plaintiff

Hailey Horowitz

firms leading the federal Multi-District Litigation (MDL) and related state court Research Associate

proceedings for a comprehensive resolution of the remaining talc litigation, Hailey.Horowitz@morganstanley.com +1 212 761-5264

Connor M Massari

conditioned, among other things, on the participation of at least 95% of the Equity Analyst

remaining claims (LINK). The proposed resolution follows a favorable MDL court Connor.Massari@morganstanley.com +1 212 761-2417

Damien H Kerner

ruling last week - see our note HERE. Research Associate

Damien.H.Kerner@morganstanley.com +1 212 761-3829

Per JNJ, the proposed resolution represents an efficient conclusion to the talc

Morgan Stanley India Company Private Limited+

litigation, and:

Saket Agarwal

• Requires and is conditioned on—among other criteria—the participation of Saket.Agarwal@morganstanley.com +91 22 6995-4012

lead plaintiff firms in all ovarian talc litigation pending in state and federal

court, representing at least 95% of the remaining claims. Johnson & Johnson (JNJ.N, JNJ UN)

• Calls for per claim payments, with a $5.5bn commitment by the Company Major Pharmaceuticals | United States of America

and the first payment of no more than $3bn to be made in 2027 and no Stock Rating Overweight