Johnson & Johnson stock falls as Talc cases proceed in court
Johnson & Johnson’s stock fell five percent on a recent Monday alone. The market decline comes after a report was released that could expose documents detrimental to the company. Johnson & Johnson is facing thousands of lawsuits regarding its baby powder. Many claim that the Talc powder manufactured by J&J contains asbestos causing ovarian cancer and mesothelioma in some patients.
Johnson & Johnson has repeatedly denied that the product contains these products. This comes after several verdicts against the pharmaceutical giant. Baby powder is considered a cosmetic and therefore does not require the same US Food and Drug Administration testing as prescription and over-the-counter drugs. Currently there are over 5,500 lawsuits pending against the drug company regarding their baby powder. The company continues to defend its product saying that the Talcum powder contained in the product is safe.
The lawsuits hinge on the argument that Johnson & Johnson failed to adequately warn consumers about the risk of repeatedly applying the talc-based product to their body, particularly the increased risk of ovarian cancer when talc is applied to the genital area. Record verdicts have been returned in some of the first talcum powder cases to go to trial. In one California case, a plaintiff was awarded $70 million in compensatory damages and $347 million in punitive damages. A Los Angeles Superior Court Judge has since reversed the jury’s verdict. A new trial is pending in the matter at Johnson & Johnson’s request.
The debate over the safety of talcum powder has existed since the 1970s. To date, the matter has not been definitively settled. The International Agency for Research on Cancer has classified talc-powder, when repeatedly applied to the genital area, as “possibly carcinogenic to humans.” Some talc-based products manufactured by other companies contain a warning about the possible link to an increased risk of ovarian cancer. Johnson & Johnson, however, maintains that its product is safe and free from harm even with repeated use.
If you or a loved one has developed mesothelioma or ovarian cancer after repeated use of Johnson & Johnson’s baby powder, you need to speak to an attorney immediately. Call our offices today to speak to a knowledgeable case manager. We work with the top firms across the nation who handle talcum powder litigation. Amicus Media Group provides comprehensive marketing campaigns for attorneys and law firms. We are dedicated to providing case acquisition with less risk. Contact our offices today to learn more about talcum powder litigation and the pending lawsuits against drug manufacturers such as Johnson & Johnson.