Johnson & Johnson on track for worst day since 2002 – CNN

New York (CNN Business)Johnson & Johnson’s (JNJ) stock tumbled 10% on Friday — wiping out close to $40 billion of its market value — after a Reuters report said the company knew for decades that asbestos was in its baby powder.The company has been grappling with lawsuits alleging some of its talcum powder products caused cancer. But the Reuters report cites documents and other evidence that indicate company executives, mine managers, scientists, doctors and lawyers knew about the problem and failed to disclose it to regulators or the public

Source: Johnson & Johnson on track for worst day since 2002 – CNN

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