Late Thursday evening, July 12th, 2018, JNJ (Johnson & Johnson, $125.89), is hot on the news for their case of being sued by 22 women for receiving cancer and /or poisoning for asbestos found in their famous talc baby powder. But should JNJ be shamed for this? Does this make JNJ a bad company?
According to mesothelioma.com, Trelomite, also known as amphibole asbestos, is created in the same nature as talc. Tremolite is often found in the same mines as talc and without special quality testing, it can contaminate the talc. However, talc can not only be used in baby powder but chewing gum, oils, makeup cosmetics, hair products, and more.
JNJ’s lead attorney, Bart Williams had more to say today on the issue,
Johnson & Johnson doesn’t believe it should be intimidated into removing a product that’s been out over 100 years, that has diapered hundreds of millions of babies around the world, simply because plaintiff lawyers have put a target on the back of Johnson & Johnson.We believe in the product. The product works. The product is beloved. The best scientists in America have reviewed it again and again.
Shares dropped 1.6% after the case was released on the news. However, does this event make JNJ a bad company? Investors and customers strong believe in the company and its products.
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