Johnson & Johnson (J&J) on Monday said it reached a settlement that it would pay an estimated $5.5 billion to settle tens of thousands of lawsuits alleging its baby powder and talc products cause ovarian cancer, which could end years of litigation on the subject. J&J previously settled most of the cases alleging its talc contained asbestos and caused mesothelioma. TEXAS AG SUES KENVUE, J&J OVER 'DECEPTIVELY MARKETING' TYLENOL TO PREGNANT WOMENJ&J has long denied that its talc products caused cancer, saying the products were safe and didn't contain asbestos. It had a mixed record when talc cases went to trial, winning some outright and reducing verdicts on appeal, though it was hit with a multibillion-dollar verdict in a case brought by 22 women. GET FOX BUSINESS ON THE GO BY CLICKING HEREThe new settlement only applies to existing claims and doesn't address future lawsuits.