J&J Says No Developments in Justice Probe Over Baby Powder

Date : 07/12/2019 @ 7:58PM
Source : Dow Jones News
Stock : Johnson and Johnson (JNJ)
Quote : 140.98  0.0 (0.00%) @ 1:45PM
Last Trade
Last $ 141.35 ▲ 0.37 (0.26%)

J&J Says No Developments in Justice Probe Over Baby Powder

Johnson and Johnson (NYSE:JNJ)
Historical Stock Chart

6 Months : From Jun 2019 to Dec 2019

Click Here for more Johnson and Johnson Charts.
By Micah Maidenberg 

Johnson & Johnson on Friday said there were no new developments regarding a Justice Department probe into the company's handling of talcum powder.

The company's statement followed a Bloomberg report that said the U.S. was pursuing a criminal investigation into whether the company lied about alleged cancer risks tied to talcum powder. The story, which cited people familiar with the matter, reduced J&J's share price by as much as 5.6% Friday.

J&J said in February that it had received a subpoena from the Justice Department related to the baby powder. "The implication that there has been a new development in this matter is flatly wrong," a J&J spokesman said in a statement Friday.

Bloomberg didn't immediately respond to a request for comment. J&J shares recently fell 4.2% to $134.15.

A grand jury is examining documents covering what executives at the pharmaceutical and health-products company knew about carcinogens in its products, the Bloomberg report said.

J&J has denied that the powder product contains asbestos or causes cancer.

J&J's talcum powder, aimed at babies, is among New Brunswick, N.J.,-based J&J's most recognizable products and one of the few branded with the company's name. The powder accounts for a fraction of its $81.6 billion in overall sales.

In May, a New York state court jury ordered the company to pay $300 million in punitive damages to a woman who claimed her use of its talc powder caused an asbestos-linked cancer.

Write to Micah Maidenberg at micah.maidenberg@wsj.com


(END) Dow Jones Newswires

July 12, 2019 15:43 ET (19:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest JNJ Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.