Johnson & Johnson has boosted to more than $8.2 billion its offer to settle thousands of lawsuits by people who say its baby powder gave them cancer, according to people familiar with the matter.

Johnson & Johnson (NYSE:JNJ) has raised its offer to settle thousands of lawsuits alleging its baby powder caused cancer to over $8.2B, people familiar with the matter told Bloomberg, compared to its previous proposal of $6.

J&J recently garnered support from more than 75 per cent of baby powder claimants for an out-of-court deal that includes claims that the talc-based version caused ovarian and other gynecological cance

Johnson & Johnson said it received overwhelming support for a roughly $8 billion settlement of claims that its talc-based baby powder caused cancer, a key step as the company makes its third attempt to resolve thousands of lawsuits in bankruptcy court.

A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $8 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company’s baby powder and other talc products caused cancer.

A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $10 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company's baby powder and other talc products caused cancer.