Johnson & Johnson To Continue Global Sale of Talc-Based Baby Powder

Johnson & Johnson will continue selling its iconic talc-based baby powder outside the United States and Canada after shareholders rejected a proposal that would have ended its worldwide production and distribution. The proposal failed to receive the majority vote needed at J&J’s annual meeting of stockholders last month, which was held virtually due to the COVID-19 pandemic. Ending global sales was one of 14 issues – and the most controversial – listed in the company’s proxy statement. J&J discontinued selling Johnson’s Baby Powder throughout the U.S. and Canada in 2020 after being flooded with lawsuits claiming long-term use of its product was causing serious health issues stemming from talc contaminated by asbestos fibers. The most serious issues involved ovarian and mesothelioma cancer. An estimated 40,000 talc lawsuits have been filed. J&J Shareholders Have Their Say The litigation stemming from those lawsuits already has cost Johnson & Johnson close to $1 billion in legal fees and $3.5 billion in settlements and verdicts, according to the company. At least 25,000 cases are still outstanding today. Along with the ballot, the shareholder proposal included lengthy statements from management encouraging rejection of worldwide talc sales, and statements from proposal authors urging its passage. “J&J remains vulnerable to further erosion of its reputation as a trusted purveyor of health-related products by continuing to ...
Source: Asbestos and Mesothelioma News - Category: Environmental Health Authors: Tags: Asbestos Exposure Source Type: news