After a Reuters report was released that Johnson & Johnson company knew that its baby talcum powder was contaminated with asbestos, a known carcinogenic, shares of Johnson & Johnson JNJ, -7.97% slid more than 11% Friday. Its slide accounted for 103 points of the Dow’s 349-point loss. Reuters said an examination of internal company memos and other documents found the New Jersey-based company was aware of the presence of small amounts of asbestos in its products from as early as 1971, but failed to disclose it to regulators. The company has been battling about 6,000 cases claiming the baby powder caused ovarian cancer or mesothelioma. Johnson & Johnson said it was working on a statement.
If you or a loved one have been injured as a result of using Johnson & Johnson baby powder, call our office at (303)-999-9999 or (303)-835-9342 to schedule a free consultation and speak with one of our highly experienced attorneys. Please also visit our practice area page on talcum powder and ovarian cancer here, as well as other blog posts involving baby powder (here here, here, and here) for additional information.
This article was originally written and posted on MarketWatch by Ciara Linnane and adapted by Emily Vucinovich.