Johnson & Johnson has offered to pay up to $5.5billion (£4.14billion) to settle lawsuits claiming its talcum powder products cause ovarian cancer.
The healthcare giant is hoping to settle tens of thousands of law suits in the US over the allegations.
Johnson & Johnson (J&J), which is based in New Jersey, has consistently denied its talc-based products caused cancer but has altered the formula of its baby powder.
Now, the BBC reports, J&J's Vice President of Litigation Erik Haas has reiterated the position that the allegations are "meritless" but has confirmed the company is willing to settle in order to finally bring an end to the long-running saga.
He said J&J would offer up to $3billion next year, with the potential for additional payments in or beyond 2028.
In order to progress, the offer must be accepted by at least 95% of the legal firms representing the claims in state and federal courts.
The first lawsuits against J&J over its talc-based baby powder began as early as 2009.
The claims relate to allegations the talc products caused cancer due to contamination with asbestos.