Monday 22 April 2019 ,
Monday 22 April 2019 ,
Latest News
  • 87 bomb detonators found at Colombo bus station: Police
  • Bangladesh, Brunei sign 7 instruments
  • Improvised bomb made safe near Colombo airport: Police
  • Family's near miss at bombed Sri Lanka church
  • Death toll in Sri Lanka serial blasts hits to 290
  • Sri Lanka blocks social media after Easter Sunday bombings
  • Ukraine comedian Zelensky wins presidency in landslide
  • ‘Husband’ burns wife in Laxmipur
16 December, 2018 00:00 00 AM
Print

Johnson & Johnson shares plunge after report on asbestos in baby powder

AFP, New York
Johnson & Johnson shares plunge after report on asbestos in baby powder

US pharmaceutical and cosmetics group Johnson & Johnson saw its shares plunge Friday after a media report alleged the group had deliberately concealed for decades that its baby powder sometimes contained asbestos.

A lengthy investigation by the Reuters news agency, which reviewed thousands of company documents, showed the company marketed talc-based products that, at least between 1971 and the beginning in the 2000s, sometimes contained asbestos.

The company’s executives, researchers, doctors and lawyers were aware but deliberately chose not to disclose this information and not to refer it to the authorities, according to the report. Johnson & Johnson strenuously rejected the claims made in the article, calling it “one-sided, false and inflammatory.”

“Simply put, the Reuters story is an absurd conspiracy theory,” the company said in a statement. “Johnson & Johnson’s baby powder is safe and asbestos-free.”

J&J stock closed down more than 10 percent at $133 on the New York Stock Exchange, its worst one-day fall in 16 years. The controversy has long dogged the company, which has been facing a wave of several thousand court cases claiming the baby powder is causing cancer.

In July, Johnson & Johnson was ordered to pay $4.7 billion in damages to a group of 22 women claiming to have developed ovarian cancer following the use of the powder.

The company said Friday there were rigorous tests showing the talc did not contain the cancer-causing mineral.

In addition, “J&J has cooperated fully and openly with the US FDA and other global regulators, providing them with all the information they requested over decades.”

According to Reuters, the company also tried, unsuccessfully, to block regulations that lower the maximum level of asbestos allowed in talc-based cosmetics.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 52.6%
No 43.5%
No Comment 3.9%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
010203040506
07080910111213
14151617181920
21222324252627
282930
More Business stories
Leather industry showing rising investment graph Investment in leather goods and footwear has been rising significantly, thanks to more and more foreign and Bangladeshi investors pumping in money as production cost has gone up in competitor countries,…

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting