California Court ordered that Johnson & Johnson must pay $29 million to a dying woman who claimed that there is the presence of asbestos in the talc which caused cancer. On Wednesday, California superior court in Oakland points the defeat of the healthcare company who is facing 13,000 talc related lawsuits countrywide.
J&J stock has dropped almost by 2% in after –an hour trading to $136.40 after the verdict was announced. In New York, on Wednesday it is closed at $139.41. In the last six month, the company shares have been under pressure for growing lawsuit.
J&J in a statement mentioned that they respect the legal process and reiterate that the jury verdicts are not medical scientific or regulatory conclusions about the products. The New Jersey-based company had denied that the talc causes cancer. He is saying something various studies and tests by controllers international have shown that it is safe as well as asbestos-free. They claim its powder is noticeably safe and asbestos-free but it has lost a sequence of the court case.
Last year in Los Angeles jury has awarded $25.7 million to a woman who blamed that the powder caused her cancer. It’s the first defeat since a Missouri jury ordered that the company last year pay around $4.69 billion to 22 women blamed their cancer on the product. The company has requested against the entire claimant outcome, and the company said it was positive the verdicts would be upturned on a plea.
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