Friday, December 14, 2018

Johnson & Johnson shares plunge after report that says it knew about asbestos in its baby powder

By Nathaniel Meyersohn, CNN Business

Updated 4:35 PM ET, Fri December 14, 2018

Johnson & Johnson's (JNJ) stock tumbled 10% on Friday — wiping out close to $40 billion of its market value — after a Reuters report said the company knew for decades that asbestos was in its baby powder.
The company has been grappling with lawsuits alleging some of its talcum powder products caused cancer. But the Reuters report cites documents and other evidence that indicate company executives, mine managers, scientists, doctors and lawyers knew about the problem and failed to disclose it to regulators or the public.


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