Why Johnson & Johnson Will Survive its Latest Litigation Wave

Johnson & Johnson (NYSE: JNJ) has long been plagued with lawsuits alleging its talcum products contain the cancer-causing substance asbestos. Unluckily for Johnson & Johnson, these allegations are a series in a long line of legal troubles. Just in October 2019, Johnson & Johnson was directed to pay $8 billion in damages to plaintiffs for pressuring medical providers to prescribe Risperdal to patients. 

At the time of this article, Johnson & Johnson is embroiled in a stream of over 16,000 asbestos-related legal actions filed by enraged consumers. The stakes were raised even higher when just two days into the New Year, the state of New Mexico filed a civil claim against Johnson & Johnson for allegedly deceiving users regarding the safety of its talc products. This is one of the first times ever that an asbestos lawsuit has been filed by a state, rather than a person, against a pharmaceutical manufacturer. 

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Source Fool.com