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(Bloomberg) -- Johnson & Johnson shares tumbled after the company said profit margins in its medical device and technology unit fell last quarter and drug sales will be lower in the second half of the year than the first.Most Read from BloombergChina Weighs Stock Market Rescue Package Backed by $278 BillionNetflix Pays $5 Billion for ‘Raw’ in Bet on Live EventsAn Isolated Israel Doubles Down on War in Gaza — At All CostsIndia Tops Hong Kong as World’s Fourth-Largest Stock MarketHong Kong Stocks

The deal includes 42 states and Washington, D.C. The company tentatively agreed to pay about $700 million to settle the states' claims, according to the Wall Street Journal. “Consistent with the plan we outlined last year, the company continues to pursue several paths to achieve a comprehensive and final resolution of the talc litigation," Erik Haas, J&J's worldwide vice president of litigation, said in a statement. The settlement does not extend to private plaintiffs' cases against the company, some of which are expected to go to trial later this year.

The firm is still facing claims from thousands of customers who allege its talc-based products caused cancer.

JNJ earnings call for the period ending December 31, 2023.

Johnson & Johnson confirms an agreement in principle with 43 states to resolve talc claims. The deal reportedly amounts to $700 million.