Johnson & Johnson will stop selling talc-based baby powder globally in 2023, the drugmaker said.

The decision comes more than two years after it ended US sales of a product that drew thousands of consumer safety lawsuits.

"As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio," it said.

It added that cornstarch-based baby powder is already sold in countries around the world.

In 2020, J&J announced that it would stop selling its talc baby powder in the US and Canada because demand had fallen in the wake of what it called "misinformation" about the product's safety amid a barrage of legal challenges.

It said then that the product would still be sold in other markets around the world, including Ireland, adding that the same ingredients that were used in the product in the US and Canada were used in the product that was sold in Ireland.

The company faces about 38,000 lawsuits from consumers and their survivors claiming its talc products caused cancer due to contamination with asbestos, a known carcinogen.

J&J denies the allegations, saying decades of scientific testing and regulatory approvals have shown its talc to be safe and asbestos-free.

Yesterday, it reiterated the statement as it announced the discontinuation of the product.

J&J spun off subsidiary LTL Management in October, assigned its talc claims to it and immediately placed it into bankruptcy, pausing the pending lawsuits.

Those suing have said Johnson & Johnson should have to defend itself against the lawsuits, while defendants of J&J and the bankrupt subsidiary process say it is an equitable way to compensate claimants.