Johnson & Johnson has tentatively agreed to pay about $700 million to settle an investigation brought by more than 40 US states into the marketing of its talcum-based baby powder, a J&J executive said, The Wall Street Journal reported.

The settlement with the attorneys general of most US states is an important step for the company as it tries to sensibly put this matter in the past, J&J CFO Joseph Wolk told The Wall Street Journal on Tuesday.

Reporters recalled that 42 American states have filed a lawsuit against the company because of its talcum-based baby powder, which could cause cancer due to the presence of carcinogenic asbestos in it.

In 2020, J&J stopped selling this powder in the US and Canada due to numerous lawsuits.

The company, however, assured that the product is safe.