Press "Enter" to skip to content

Reuters Reveals J&J Knew About Asbestos In Its Baby Powder, Shares Down

Johnson & Johnson is a reputed pharmaceutical company based in the US that manufactures products that have been on the market for a really long time. However, recently the reputation of the company has been tainted by allegations of using carcinogenic materials in its products, which has raised a worldwide hue and cry. Things took a turn for the uglier when Reuters recently revealed that the company was aware of asbestos in its talc for more than a decade. The magnanimity of the situation can be judged by the fact that the shares dropped down by as much as 10%, making it a hefty loser in the financial market.

Quite predictably, Johnson &Johnson denied the allegations. Their attorney in chief, Mr. Peter Bicks has rubbished the claims made by Reuters through an email. He has mentioned that a scientific consensus was already made regarded the talcum powder and the verdict stated that it did not contain asbestos or any other product that might cause cancer. At the maximum, it might have contained trace amounts but that would not be in proportions in the minimum hazardous dose that may deem it to be carcinogenic. To add more to the pint, Bicks mentioned that Reuters may have confused the results with industrial talc.

The point of view of Reuters is slightly different here. They were successful in reviewing articles that were kept from the court, ranging from 1971 to the early part of 2000. Internal tests during that period revealed that the talcum powder rarely contained some portions of asbestos in it, which did not completely rule out its harmful potential. Although asbestos was not regularly detected, even the minor blips were never addressed. One negative of all these allegations is the huge financial losses that the company has been facing ever since it got involved in multiple lawsuits.

This comes in the wake of the decision of the court to compensate 22 women with 4.7 billion dollars who claimed to have developed ovarian cancer using these products. It definitely portrays the multi-billion dollar company in poor light.