J&J Doing Damage Control Following Reuters Report On Asbestos ‘Lurking’ In Johnson’s Powder
• By Lauren Nardella
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J&J shares are down nearly 12% since Reuters reported Dec. 14 that the firm has known for decades about toxic asbestos in its Johnson’s Baby Powder talc. The news outlet’s probe turned up nothing that hasn’t been raised by plaintiff attorneys, but throws the central issues of contention into high relief for its global audience.
Johnson & Johnson suffered a major setback Dec. 14 in its battle to defend the safety of Johnson’s Baby Powder on the global PR front – in addition to the courts – in the form of a Reuters report suggesting the firm has been concealing asbestos-tainted talc risks from the public for decades.
The firm’s stock plummeted following the report’s publication and remains down roughly 12% as of mid-morning trading Dec. 19.
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