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Johnson & Johnson said it will discontinue its talc-based baby powder because of dropping demand.
The company reassessed and reprioritized its portfolio in light of the coronavirus, a spokesperson told FOX Business.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 149.02 | -1.50 | -1.00% |
JUDGE RULES TALC LAWSUITS AGAINST J&J CAN PROCEED
“Demand for talc-based Johnson’s Baby Powder has been declining in North America due in large part to changes in consumer habits and fueled by misinformation around the safety of the product and a constant barrage of litigation advertising,” they said.
Johnson’s Baby Powder represents about 0.5 percent of the company’s U.S. consumer health business, the company said in a statement. J&J will continue selling the product until its supply runs out.
In this photo illustration, a container of Johnson’s baby powder made by Johnson and Johnson sits on a table. (Photo Illustration by Justin Sullivan/Getty Images)
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J&J is facing thousands of lawsuits that allege its talc products can cause cancer due to asbestos contamination. The company has disputed the claims.
“We remain steadfastly confident in the safety of talc-based Johnson’s Baby Powder,” the spokesperson said. “Decades of independent scientific studies by medical experts around the world support the safety of our product.”
