Johnson & Johnson has proposed a $5.5 billion settlement to resolve thousands of lawsuits alleging its talcum powder products caused cancer. The offer aims to end a years-long legal battle that has weighed on the company. The lawsuits claimed that the company's baby powder and other talc-based products were contaminated with asbestos, a known carcinogen. Johnson & Johnson has maintained that its products are safe and do not cause cancer. The settlement would cover claims from individuals who developed ovarian cancer or mesothelioma after using the products. The proposal still requires approval from the courts and plaintiffs. If accepted, it would be one of the largest product liability settlements in history. The company has faced over 38,000 lawsuits, with some resulting in multi-million dollar verdicts. Johnson & Johnson has denied any wrongdoing, stating that the settlement is not an admission of liability. The proposed deal comes after years of legal proceedings and appeals. A previous attempt to resolve the cases through bankruptcy was rejected by the courts. The new settlement offer aims to provide compensation to claimants while avoiding further litigation. The company's shares rose slightly following the announcement. Analysts say the settlement could help Johnson & Johnson put the legal uncertainty behind it, but the company still faces other legal challenges related to its products.