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

In this file photo taken on July 13, 2018, In this photo illustration, a container of Johnson's baby powder made by Johnson and Johnson sits on a table on in San Francisco, California. (AFP)
Updated 15 December 2018
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Johnson & Johnson shares plunge after report on asbestos in baby powder

  • 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

NEW YORK: 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.


Where We Are Going Today: Trend

Updated 18 April 2019
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Where We Are Going Today: Trend

As its name suggests, this is a restaurant that aims to set trends, with its distinctive meals and desserts, that others will want to follow.

At Trend, it is the little details and twists they put on familiar dishes that make all the difference, such as the blueberry sauce burger, wraps held together with pegs, black pasta and multicolored burger buns. However, it is not only the presentation of the food that sets Trend apart, but also the quality and originality of the flavors.

The restaurant also has a unique way of serving food: It is placed in layers in a tin that is placed upside down on your plate, and when it arrives at the table you lift the tin and let the layers spread out.

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