J&J exploring putting talc liabilities into new business that would file for bankruptcy, sources say

J&J is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection. The company has not yet decided whether to pursue the bankruptcy plan and could ultimately abandon the idea, sources told Reuters. J&J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer.