Johnson & Johnson Knew for Decades About Asbestos in Baby Powder Products
Johnson & Johnson shares tumbled about 10 percent Friday following a Reuters report that claimed the company knew its talcum baby powder contained asbestos for decades.
Johnson & Johnson Knew for Decades About Asbestos in Baby Powder Products According to Reuters, executives were aware of the issue from 1971 to the early 2000s. Reuters adds those involved at the company only discussed the problem and did not disclose it to regulators or the public.
The company has rejected Reuters findings, calling them “false and misleading.” Following the news, J&J’s stock on Friday fell 10.8%. Johnson & Johnson has also faced a wave of lawsuits claiming its talc baby powder products contains asbestos and have caused ovarian and other types of cancers. Back in July, a jury in Missouri ordered J&J to pay $4.9 billion to 22 women and their families.
