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Johnson & Johnson has agreed to pay $5.5 billion to tie up remaining lawsuits that claim its talc products caused ovarian cancer.
The drugmaker, which has been fighting talc-related lawsuits for more than a decade, said that the settlement is conditioned on at least 95% of remaining claimants participating.
A U.S. bankruptcy court judge denied a $9 billion settlement proposed by company subsidiary Red River Talc last year that would have been one of the biggest mass tort settlements in history.
Johnson & Johnson decided not to appeal that ruling and instead fight on in court.
A federal judge last week ordered plaintiffs in the case against Johnson & Johnson to show why the remaining pending talc claims should not be dismissed after their witnesses could not provide a direct link between the company's product and cancer.