Popular baby powder brand Johnson and Johnson in trouble as new findings surface causing their drop in shares by 4 percent.
In a report by Reuters News Agency, after series of investigations, from reviewed documents and deposition and trial testimony, reviewed that from 1971 to the early 2000s, J&J company executives, mine managers, doctors and lawyers of Johnson and Johnson for decades knew its talcum baby powder contains asbestos, this has led to the drop of shares by four percent.
However, J&J’s company who in an emailed responses stated that the findings of Reuters, stated that it is “False and Misleading”.
“The scientific consensus is that the talc used in talc-based body powders does not cause cancer, regardless of what is in that talc,” Bicks wrote. “This is true even if — and it does not — Johnson & Johnson’s cosmetic talc had ever contained minute, undetectable amounts of asbestos.” He dismissed the tests cited in Reuter’s article as “outlier” results, Reuters said.
The company has faced a wave of lawsuits alleging its talc baby powder products contain asbestos and caused ovarian and other cancers. A Missouri jury in July ordered J&J to pay $4.9 billion in a case involving 22 women and their families. A judge affirmed the verdict in August and J&J vowed to appeal it.