If it does, we expect briefing to take place over the next couple of months with a decision in the early 2024 timeframe. And because we do anticipate the third circuit will primarily affirm the application of its standards, we will immediately thereafter request the Supreme Court to resolve the circuit split and decide if the third circuit’s novel approach is an appropriate standard for deciding a motion to dismiss. We do not think it is. We hope to squeeze the cert petition to the Supreme Court into the first term in 2024, but if not, we will raise it in the second term. Working with the council, representing the vast majority of the TALC claimants more than we had previously that were along with us. Along with the — in addition to the future claims representatives and together with the council and the future claims representatives were pursuing a consensual resolution of the TALC claims through another bankruptcy.
And that is exactly what the bankruptcy court, the New Jersey bankruptcy court urged and strongly recommended that we do in its decision that actually dismissed the case. And the New Jersey court made those recommendations having found that LTL had made remarkable progress towards an equitable and efficient resolution to-date. So we are continuing on in that process. In terms of timing on the second prong, the consensual resolution is on the same trajectory as the initial bankruptcy plan with a vote expected in the next six months to determine whether the requisite super majority of claimants support the plan. Third, while those negotiations are proceeding, we will continue to vigorously defend the meritless TALC claims in the tort system. As you may have seen just this last week, we had a significant favorable ruling in that regard with the New Jersey’s appellate court in the Barden case reversing a $223 million verdict against the company.
The appellate court reversed because it determined the opinions of the leading plaintiff’s experts were unsound, were unscientific, and were unsubstantiated. And it is that baseless nature of those expert opinions why we have prevailed in the vast majority of the cases that have been tried to-date. In terms of timing of the litigation, there are two additional mesothelioma cases that we expect will be tried this year with more to come in 2024. As with the Barden case, it’s important to keep in mind that the ultimate resolution of those matters often is determined at the appellate level, not at the trial level, which is the place which occurs in the forms that the plaintiff lawyers choose. Finally, we will aggressively challenge the abuses of the judicial system by the mass tort plaintiff’s bar and its experts with their own affirmative litigation.
We mentioned last time that we brought two actions against the plaintiff’s bar’s lead experts for defaming our TALC products with publications premised unknowingly false propositions. And those are moving forward. They’ve been fully briefed with respect to the initial case motions and in terms of timing, we expect a ruling shortly from the Federal District Court in New Jersey, whether those matters may proceed to the discovery phase. So that’s a quick summary. I’d be happy to answer any follow-up questions you may have regarding the strategy.
Joe Wolk: Great. Thank you, Eric. Chris, regarding your second question, you know, if J&J had a nickel for every time voracious was quoted back to me since the second quarter earnings, we probably could have taken up guidance even a little bit more. And while that’s often associated with wanting or devouring great quantities, I think it’s really the second definition in webster’s where having a very eager approach to an activity is the construct in which I meant that term in the second quarter. So I could have said that five years ago, 10 years ago, my predecessors could have said that. We routinely, almost weekly meet on new opportunities that may complement our existing portfolio or our future pipeline in both MedTech and Innovative Medicines.
And the current moment is no different. In fact, we’re in a very good position, given the low levels of net debt, the cash we were able to raise to fulfill one of our capital allocation priorities, which you’re probably very, very familiar with at this point in time. But we’re not going to compromise our principles in making sure that it’s a strategic fit. So it fits into the scientific expertise, the commercial capabilities, or the global reach that will add value to that asset in our hands versus someone else. And we’re going to make sure that we’re disciplined in that approach financially by ensuring that we have a return that’s commensal with the risk that we’re bearing on behalf of shareholders. So we’d much rather have an okay deal pass us by, then make a bad deal.
And that’s kind of the principles that we’ll live into. There’s no deal that’s too big, give it our credit rating, as well as our financial strength and annual cash flow generation. But as you know, we’ve had great success doing smaller, earlier-stage deals as well. We’re agnostic with respect to whether it’d be the next one being MedTech or Innovative Medicines, we are simply looking for the best qualified deal that meets both strategic and financial parameters. So hopefully that answers your question. Next question, Kevin?
Operator: Our next question is coming from Geoff Meacham from Bank of America. Your line is now live.
Geoff Meacham: Hey, guys. Good morning. Thanks so much for the question. I’ll stick with one. So on CARVYKTI, can you talk about the commercial backdrop, just with respect to new centers or prescribers and related on manufacturing? You guys have any update on the vector constraints and maybe when that could be relieved? Thank you so much.
Joaquin Duato: Thank you, Geoff. And as you have seen in the progression quarter-over-quarter of CARVYKTI, we continue to have on one hand strong demand and on the other hand, progress in our manufacturing. We’re also very encouraged by the data that came out with CARTITUDE-4 that eventually we make CARVYKTI also a medicine in early absence of therapy. So when it comes to our manufacturing progress, I’m going to let John explain what are we doing in order to be able to supply the strong demand that we are seeing in CARVYKTI today. Overall, what you can expect, Geoff, is that we — you will continue to see quarter-over-quarter improvement in 2023 into also 2024.
