Johnson & Johnson Plans to Stop Selling Talc-Based Baby Powder
On Tuesday, Johnson & Johnson (NYSE: JNJ) announced plans to discontinue sales of talc-based Johnson's Baby Powder as part of a larger reorganization of products sold by the healthcare conglomerate.
The discontinuation of talc-based Johnson's Baby Powder in North America was due to declining sales of the talc-based products as customers worried about the potential to get cancer from the products.
Johnson & Johnson is facing multiple lawsuits over the potential for talcum powder to cause cancer, potentially due to contamination with asbestos. But the company claims that the discontinuation of sales of the product is solely due to declining sales and it "remains steadfastly confident in the safety of talc-based Johnson's Baby Powder." The company has lost quite a few lawsuits, although it's had many of the verdicts reduced or nullified on appeal.
Source Fool.com
