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J & J CEO defends baby powder after 40 billion dollars hit shares

Johnson and Johnson CEO Alex Gorksy defends consumer products giant against charges The company was aware that its baby powder, sometimes tested positive for asbestos, was a carcinogen, according to a Reuters report. On Monday, the company released a national advertising campaign with Gorksy, and repeated to the public that its baby powder is completely safe. Gorsky does everything it takes to insure both clients and investors — after the shares have extended decreases on Monday after becoming 10 percent on Friday &#8211 ; losing nearly 40 billion dollars in value. Ticker Security Last Change % Chg JNJ JOHNSON & JOHNSON 129.14 -3.86 -2.90% Fact is that he says tens of thousands of studies that have shown talc do not cause cancer or asbestos-related disease. Gorsky also referred that the US Food and Drug Administration, (FDA) and other global regulators have consistently proven that the product is asbestos-free. Despite the appeal, however, shares remain suppressed for New Brunswick, New Jersey-based drug giant. More from FOXBusiness.com … In addition, J & J noted that it has won several new laws regarding liability and damage to their baby powder. There are also appealing judgments, including the $ 4.6 billion awarded to 22 women in July who claimed that its powder caused their ovarian cancer. Still, Reuters reported on Friday that J & J knew about the presence of cancerous asbestos in its iconic baby powder and claimed that it hid it from the FDA at least three tests of three different laboratories…

Johnson and Johnson CEO Alex Gorksy defends consumer products giant against charges The company was aware that its baby powder, sometimes tested positive for asbestos, was a carcinogen, according to a Reuters report.

On Monday, the company released a national advertising campaign with Gorksy, and repeated to the public that its baby powder is completely safe.

Gorsky does everything it takes to insure both clients and investors — after the shares have extended decreases on Monday after becoming 10 percent on Friday &#8211

; losing nearly 40 billion dollars in value.

Ticker Security Last Change % Chg
JNJ JOHNSON & JOHNSON 129.14 -3.86 -2.90%

Fact is that he says tens of thousands of studies that have shown talc do not cause cancer or asbestos-related disease. Gorsky also referred that the US Food and Drug Administration, (FDA) and other global regulators have consistently proven that the product is asbestos-free. Despite the appeal, however, shares remain suppressed for New Brunswick, New Jersey-based drug giant.

More from FOXBusiness.com …

In addition, J & J noted that it has won several new laws regarding liability and damage to their baby powder. There are also appealing judgments, including the $ 4.6 billion awarded to 22 women in July who claimed that its powder caused their ovarian cancer.

Still, Reuters reported on Friday that J & J knew about the presence of cancerous asbestos in its iconic baby powder and claimed that it hid it from the FDA at least three tests of three different laboratories from 1972 to 1975. [19659002] J & J immediately released a statement after the article saying that it was “one-sided, false and inflammatory”.

“Simply put, the Reuters story is an absurd conspiracy theory, apparently spanning 40 years, orchestrated among generations of global regulators, the world’s leading researchers and universities, leading independent laboratories and J & J employees themselves,” said the company. It is said that J & J’s childbirth is “safe and asbestos-free”, referring to the studies of “more than 100,000 men and women,” as they said, talc does not cause “cancer or asbestos-related disease.”

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