Health and Healthcare
How Much More Talc Fallout Will Johnson & Johnson Face After This $29 Million Verdict?
Published:
Last Updated:
A California jury has awarded $29 million to a woman who claimed talcum-powder-based Johnson & Johnson (NYSE: JNJ) products caused her cancer. This ruling is the most recent defeat, out of the pool of more than 13,000 talc-related lawsuits nationwide.
Johnson & Johnson said it would appeal this verdict, citing “serious procedural and evidentiary errors” in the course of the trial. Specifically, the firm said that the lawyers for the woman fundamentally had failed to show its baby powder contains asbestos. The company did not provide further details of the alleged errors during the trial.
On its face, Johnson & Johnson denies that its talc causes cancer, saying numerous studies and tests by regulators worldwide have shown that its talc is safe and asbestos-free. For the record, the company has shown that decades of testing indicated that the use of baby powder was safe and asbestos-free.
The history of talc and asbestos cases against Johnson & Johnson is mixed. The company has won some suits that went to trial. It also faced a $4.7 billion award against it last summer in a case representing 22 women and their families. Johnson & Johnson is still appealing the verdict.
An issue with environmental cases of this sort, including aspects of asbestos cases, is that there is no time limit and quantifying the ultimate financial risk is nearly impossible. Looking at the downside, it is entirely possible that the lifetime’s worth of sales of Johnson’s Baby Powder could be far lower than total damages over time if these cases end up going against the company.
Shares of Johnson & Johnson were last seen down nearly 1% at $138.15, in a 52-week range of $118.62 to $148.99. The consensus analyst target is $144.71.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.