Published: Sat, December 15, 2018
Markets | By Erika Turner

Johnson & Johnson hammered by report it knew of asbestos in baby powder

Johnson & Johnson hammered by report it knew of asbestos in baby powder

J&J was found to have known about the presence of small amounts of asbestos in its products from as early as 1971, a Reuters examination of company memos, internal reports and other confidential documents showed. The documents, says Reuters, show company executives and scientists discussing how to address the issue, but not disclosing it to health officials or consumers.

"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.

The controversy has long dogged the company, which has been facing a wave of several thousand court cases claiming the baby powder is causing cancer.

"Studies of more than 100,000 men and women show that talc does not cause cancer or asbestos-related disease".

J&J stock plunged 8 percent to $136.10 after Reuters reported that the company knew about asbestos in its products since the 1970s.

The company, in 1976, had assured the U.S. Food and Drug Administration that no asbestos was "detected in any sample" of talc produced between December 1972 and October 1973 when at least three tests by three different labs from 1972 to 1975 had found asbestos in its talc. CNN reported J&J is on track for its worst day in a decade.

Evidence the company knew about the link came to light after people who suspected that talc caused their cancers hired lawyers who were experienced in litigation involving workers exposed to asbestos.

Apple to build new $1 billion campus in Austin
The good news is places like Pittsburgh are starting to make real strides in becoming targets of these investments. In Austin, Apple will be hiring an initial 5,000 employees, saying it has capacity to grow that number to 15,000.

The World Health Organisation now recognises no safe level of exposure to asbestos. Just how small hasn't been established.

"Simply put, the Reuters story is an absurd conspiracy theory", the company said in a statement.

He stated the brand should include a "serious warning" on the bottles if they intend to continue selling them.

It added: "Johnson & Johnson will continue to defend the safety of our product".

Many plaintiffs allege that the amounts they inhaled when they dusted themselves with tainted talcum powder was enough to make them ill.

J&J has been battling some 6,000 cases claiming its Baby Powder and Shower to Shower products cause ovarian cancer. Others have failed to reach verdicts, resulting in mistrials.

"Plaintiffs"€ attorneys out for personal financial gain are distorting historical documents and intentionally creating confusion in the courtroom and in the media, '€ Ernie Knewitz, J&J's vice president of global media relations said in response to Reuters.

Like this: