In order to settle the tens of thousands of lawsuits Johnson & Johnson is facing in North America, which allege that its baby powder and other talc-based products cause cancer, the corporation has offered to pay close to $9 billion.

The healthcare behemoth declared it continued to view the allegations as "specious," but hoped the fresh settlement offer would help put an end to its legal dispute.

The amount is a significant increase from the $2 billion it originally suggested.

Those connected to the case, it claimed, had expressed strong approval for the revised offer.

The business is dealing with more than 40,000 claims from former clients who claim that its talc-based baby powder caused cancer, some of whom claim the product included asbestos, which is known to cause cancer.

It stopped US sales of its talc-based baby powder in 2020, citing "misinformation" that had sapped demand for the product, applied to prevent nappy rash and for other cosmetic uses, including dry shampoo. Last year, it announced plans to end sales globally.

Before that decision, the company had sold the baby powder for almost 130 years. It continues to sell a version of the product that contains cornstarch.

The company has been trying to resolve the lawsuits in bankruptcy court since 2021, after creating a subsidiary responsible for the claims.

But its efforts ran into trouble after an earlier bankruptcy court ruling found the subsidiary was not in financial distress and could not use the bankruptcy system to resolve the lawsuits.

"The company continues to believe that these claims are specious and lack scientific merit," said Erik Haas, worldwide vice president of litigation for Johnson & Johnson.

But he said "resolving these cases in the tort system would take decades and impose significant costs on LTL and the system, with most claimants never receiving any compensation."

"Resolving this matter through the proposed reorganisation plan is both more equitable and more efficient, allows claimants to be compensated in a timely manner, and enables the company to remain focused on our commitment to profoundly and positively impact health for humanity."

Johnson & Johnson said it had won a majority of the talc lawsuits against it. But it has been stuck with some significant losses, including one decision in which 22 women were awarded a judgement of more than $2bn.

Johnson & Johnson said it had commitments from about 60,000 current claimants to support the new settlement terms.