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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Johnson and Johnson | NYSE:JNJ | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.14 | 0.09% | 148.72 | 149.73 | 148.45 | 149.38 | 7,333,723 | 00:03:46 |
By Peter Loftus
Johnson & Johnson said Tuesday that it would stop selling one of its most famous products, talc-containing Johnson's Baby Powder, in the U.S. and Canada, citing a decline in customer demand amid publicity about safety concerns.
J&J will continue to sell a cornstarch-based version of Johnson's Baby Powder in the U.S. and Canada. And the company will continue to sell both talc-containing and cornstarch baby powders outside of those countries, where it says demand remains high.
"Demand for talc-based Johnson's Baby Powder in North America has been declining due in large part to changes in consumer habits and fueled by misinformation around the safety of the product and a constant barrage of litigation advertising," J&J said in a statement posted on its website Tuesday afternoon.
J&J has faced lawsuits alleging its talcum powder was responsible for cancer in some women who used it for years. As of March, about 19,400 plaintiffs had filed lawsuits against the company over the product in U.S. courts, alleging it caused ovarian cancer and a rare cancer called mesothelioma.
The company has denied the allegations and fought the lawsuits, winning some cases in court but losing some costly verdicts, too.
J&J said it remains confident in the safety of its talc-based Johnson's Baby Powder.
Write to Peter Loftus at peter.loftus@wsj.com
(END) Dow Jones Newswires
May 19, 2020 17:33 ET (21:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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