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Author Topic: Johnson & Johnson tumbles after report says it knew for decades that its baby powder contained asbes  (Read 921 times)

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Offline mystery-ak

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Johnson & Johnson tumbles after report says it knew for decades that its baby powder contained asbes
« on: December 14, 2018, 07:55:08 pm »

Johnson & Johnson tumbles after report says it knew for decades that its baby powder contained asbestos (JNJ)
Rebecca Ungarino
Dec. 14, 2018, 11:12 AM


    Johnson & Johnson sank 8% on Friday after Reuters reported the company knew for decades that its baby powder contained asbestos.
    Reuters reviewed documents from at least 1971 to the early 2000s that it said showed powders sometimes tested positively for small traces of asbestos.
   

Johnson & Johnson shares sank 8% Friday after Reuters reported that the pharmaceutical giant knew for decades that its baby powder contained asbestos.

Reuters reviewed documents, deposition, and trial testimony from at least 1971 to the early 2000s that it said showed powders and raw talc sometimes tested positively for small traces of asbestos.

Furthermore, "company executives, mine managers, scientists, doctors, and lawyers fretted over the problem and how to address it while failing to disclose it to regulators or the public," the Reuters reporter Lisa Girion wrote.

Johnson & Johnson issued a statement on Friday  in response to the report, calling the article false and saying that its baby powder is "safe and asbestos-free."

more
https://markets.businessinsider.com/news/stocks/johnson-and-johnson-baby-powder-asbestos-sinks-stock-2018-12-1027810884
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Offline Sanguine

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Re: Johnson & Johnson tumbles after report says it knew for decades that its baby powder contained a
« Reply #1 on: December 14, 2018, 08:01:56 pm »
Just for context:

Quote
Talc and asbestos occur naturally and may occur in close proximity in some metamorphic rocks. Studies published in the 1960s and 1970s identified health concerns about the use of talc that contains asbestos in some cosmetic products.

According to the FDA, "These studies have not conclusively demonstrated such a link, or if such a link existed, what risk factors might be involved." To address these concerns, talc mining sites are now carefully selected and ores are carefully processed to avoid the presence of asbestos in talc destined for use in the cosmetics industry.

https://geology.com/minerals/talc.shtml
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