Johnson and Johnson (JNJ) – Get report Actions slowed Tuesday after an appeals court upheld a ruling in favor of 20 women who attributed their ovarian cancer to talc-based baby powder from the pharmaceutical giant.
But the Missouri Court of Appeals reduced the amount set in a 2018 jury decision to $ 2.12 billion from $ 4.69 billion, Reuters reported.
J&J has found mixed results in the thousands of lawsuits it has faced regarding dust.
The plaintiffs claim that women who use baby powder every day for feminine hygiene suffered asbestos mixed with the powder used to make baby powder.
In addition to ovarian cancer, they said the drug also led to mesothelioma, a cancer in the tissue around the lungs.
Officials from the New Brunswick, NJ health giant say that scientific evidence has not shown evidence of that. Johnson & Johnson has challenged the lawsuits on a case-by-case basis. As of March, he faced about 19,400 plaintiffs, The Wall Street Journal reported.
In May, the company said it would suspend sales of talc-based baby powder in the US. USA And Canada.
He said demand has been falling “largely due to changes in consumer habits and fueled by misinformation about product safety and a constant barrage of litigation advertising,” according to a statement.
Johnson’s Baby Powder “represents approximately 0.5% of the total consumer health business in the United States,” according to the company statement.
J&J shares in the last traded check changed little to $ 143.41. The stock is up 20% in the past three months, lagging behind the S&P 500 index, which is up 36%.
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