Johnson and Johnson stock prices sinks in stock market after the information leaked that the company knew for decades that their talcum powder contained asbestos. The value of J & J’s shares collapsed on Friday, shortly after news agency Reuters published a story claiming that the company had known for decades that talcum powder contained asbestos , a mineral of composition and characters similar to of asbestos and with harmful effects for health.
How Dangerous is Asbestos?
Breathing in air containing asbestos fibres can lead to asbestos-related diseases, mainly cancers of the lungs and chest lining. Asbestos is only a risk to health if asbestos fibres are released into the air and breathed in. Past exposure to asbestos currently kills around 4000 people a year in Great Britain.
Did Johnson & Johnson knew of asbestos in Baby Powder ?
For its part, J & J charged against the veracity of the information in a statement.
“The Reuters article is unilateral, false and inflammatory, in short, the story of Reuters in an absurd conspiracy theory that has apparently lasted more than forty years and has been orchestrated by generations of global regulators and scientists and universities. of the world, as well as the most important independent laboratories and the employees of J & J, “said the company.
In August 2017, a US jury sentenced J & J to pay 417 million dollars for failing to warn of the cancer risk linked to the use of its talc products and, in July 2018, another jury ordered the company to compensate 4,690 million dollars to 22 women and their families who blamed their talc products for causing them ovarian cancer.
Johnson & Johnson to appeal $417 million verdict for woman’s talc cancer claim