NewsFeeder
12-14-2018, 01:10 PM
Johnson & Johnson shares nosedive on report it knew of asbestos in Baby Powder
The decline in shares erased about $40 billion from the company's market capitalization, with investors worrying about the impact of the report as it faces thousands of talc-related lawsuits. 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 report also said the company had commissioned and paid for studies conducted on its Baby Powder franchise and hired a ghostwriter to redraft the article that presented the findings in a journal.
https://finance.yahoo.com/news/j-j-shares-drop-report-154244438.html?.tsrc=rss
The decline in shares erased about $40 billion from the company's market capitalization, with investors worrying about the impact of the report as it faces thousands of talc-related lawsuits. 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 report also said the company had commissioned and paid for studies conducted on its Baby Powder franchise and hired a ghostwriter to redraft the article that presented the findings in a journal.
https://finance.yahoo.com/news/j-j-shares-drop-report-154244438.html?.tsrc=rss