Bausch Health Companies (NYSE:BHC)
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By Micah Maidenberg
Bausch Health Companies Inc. (BHC) struck a deal with Johnson & Johnson (JNJ) related to litigation over a shower product J&J sold to Bausch's predecessor company several years ago.
Bausch said in a filing Tuesday that J&J has agreed to protect Bausch against potential liabilities it may face arising from personal injury and product liability lawsuits connected to the Shower to Shower body powder. The deal covers suits filed before March 2020.
In addition, J&J will indemnify Bausch for any regulatory actions related to the production, use or sale of the powder up to early September 2012, Bausch said. J&J didn't immediately respond to a request for comment.
Bausch Health's predecessor company, Valeant Pharmaceuticals International, purchased the Shower to Shower powder from J&J in September 2012, according to Bausch's annual report.
Since then, Bausch has been named in 165 lawsuits involved in the product, the company said in its annual report. In some cases, the company has been dismissed from the cases, Bausch said. But other plaintiffs plan to file additional lawsuits, according to the company.
Some of the cases allege that the Shower to Shower product caused plaintiffs to develop ovarian cancer, according to Bausch. The company said in the annual report that it plans on vigorously defending itself in suits that haven't been dismissed.
In the filing Tuesday, Bausch said it had withdrawn a demand for arbitration for J&J related to the scope and amount of J&J's indemnification of Bausch related to the suits.
Write to Micah Maidenberg at firstname.lastname@example.org
(END) Dow Jones Newswires
April 23, 2019 08:27 ET (12:27 GMT)
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