J&J Shares Extend Losses; Company Defends Baby Powder As Safe

www.oann.com | 2/24/2016 | Staff
ajoy26 (Posted by) Level 3
(Reuters) – Shares of Johnson & Johnson slipped another 2 percent on Monday, extending losses following Friday’s Reuters report that the healthcare conglomerate knew for decades that cancer-causing asbestos lurked in its Baby Powder.

J&J shares had closed down 10 percent on Friday, wiping out about $40 billion from the company’s market capitalization.

Company - Presence - Amounts - Asbestos - Products

The company knew about the presence of small amounts of asbestos in its products as early as 1971, a Reuters examination of company memos, internal reports and other confidential documents showed.

In response to the report, the company said on Friday “any suggestion that Johnson & Johnson knew or hid information about the safety of talc is false.”

Monday

On Monday,...
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