Red River Talc, a Johnson & Johnson subsidiary, filed for Chapter 11 bankruptcy to settle ovarian cancer claims with an $8B settlement plan. Read more here.

The J&J Red River Talc unit made its filing in the U.S. Bankruptcy Court for the Southern District of Texas. J&J faces lawsuits from more than 62,000 claimants who alleged that its baby powder and other talc products were contaminated with asbestos and caused ovarian and other cancers.

Johnson & Johnson said Friday a majority of baby powder users agreed to back an around $8 billion settlement of claims the talc-based product gave them cancer, a key step as the company makes its third attempt to resolve thousands of lawsuits in bankruptcy court.

The healthcare-products company is taking another shot at resolving mass cancer lawsuits in chapter 11 after two failed attempts.