J&J may put talc liabilities into new business that files bankruptcy - Reuters

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• Johnson & Johnson (NYSE:JNJ) is exploring a plan to offload liabilities from its Baby Powder litigation into a newly created business that would then seek bankruptcy protection, Reuters reports.
• J&J has not yet decided whether to actually pursue the bankruptcy plan, and it is not clear whether the company has retained restructuring lawyers to help explore the bankruptcy plan, according to the report.
• The company faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer.
• According to recent reports, the FDA has launched an investigation into why the cancer-causing agent benzene has been found in some samples of J&J's Neutrogena and Aveeno branded sunscreens.