As per a Bloomberg report, Johnson & Johnson (JNJ) to pay more than $100 million in legal charges in order to settle over 1,000 lawsuits that claim that the company’s Baby Powder causes cancer. J&J is under more than 19,000 lawsuits from its talcum powder users claiming its talc products caused cancer due to contamination with a carcinogen element, known as asbestos.
However, the company has maintained that its talc is safe to use and is free from any cancer-causing ingredients. In May, J&J announced to stop selling its talc in the United States and Canada after facing low demand amid the accusation about the product’s safety and legal charges.
“In certain circumstances, we do choose to settle lawsuits, which is done without an admission of liability and in no way changes our position regarding the safety of our products,” the company said in a statement.
Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.
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