Wired News – Johnson & Johnson to Pay Compensatory Damages over Claims Linking Cancer to Asbestos in Talc

Stock Monitor: Immune Pharma Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 10, 2018 / Active-Investors.com has just released a free research report on Johnson & Johnson (NYSE: JNJ) ("J&J"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=JNJ as the Company's latest news hit the wire. On April 06, 2018, the Company lost its first trial over claims that its talc-based products including Johnson's Baby Powder contained cancer-causing asbestos talc. The Company was ordered to pay $37 million in compensatory damages to a New Jersey resident, Stephen Lanzo, over claims that he contracted a deadly form of cancer mesothelioma from using J&J's talc powder products that contained asbestos. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Johnson & Johnson most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Background of the Lawsuit

The case was filed in the Middlesex County Superior Court in New Brunswick, New Jersey. According to the Complaint, J&J and its France-based talc supplier, Imerys SA, issued false or misleading statements and failed to disclose that J&J's talc products included asbestos fibers, and that exposure to those fibers could cause ovarian cancer and mesothelioma. J&J's denials that talc could cause cancer and mesothelioma were materially false and misleading.

Jury Verdict

Jurors awarded Lanzo $30 million and his wife $7 million in compensatory damages. The court found that J&J was responsible for 70% of the damages and Imerys SA was responsible for 30%. The jury will begin a second phase of the trial to consider punitive damages.

Trial Involving Ovarian Cancer Lawsuit

Reports suggest that New Brunswick-based J&J faces talc-related lawsuits by around 6,600 plaintiffs in the United States, based on claims that the Company failed to warn women about the risk of developing ovarian cancer by using its products for feminine hygiene. According to the US Food and Drug Administration (FDA), questions about the potential contamination of talc with asbestos have been raised since the 1970s.

In the past two years, juries found J&J liable five times in ovarian cancer claims. Two of those cases have been overturned in appeals courts. However, in February 2018, J&J was ordered to pay $72 million in damages to the family of an Alabama woman who died from ovarian cancer, allegedly caused by using the Company's Baby Powder and other products that contained talc for feminine hygiene. In August 2017, a California jury ordered J&J to pay $417 million to a California resident, Eva Echeverria, who claimed she developed ovarian cancer after using the Company's talc-based products. The verdict included $70 million in compensatory damages and $347 million in punitive damages.

About Mesothelioma

Mesothelioma is a rare, aggressive form of cancer that develops in the lining of the lungs, abdomen, or heart. Caused by asbestos, mesothelioma has no known cure and has a very poor prognosis. The signs and symptoms of mesothelioma may include shortness of breath due to fluid around the lung, a swollen abdomen, chest wall pain, cough, feeling tired, and weight loss.

About Johnson & Johnson

Founded in 1886 and headquartered in New Brunswick, New Jersey, J&J is an American multinational medical devices, pharmaceutical, and consumer-packaged goods manufacturing organization. The Company's brands include numerous household names of medications and first aid supplies.

Stock Performance Snapshot

April 09, 2018 - At Monday's closing bell, Johnson & Johnson's stock advanced 1.08%, ending the trading session at $129.48.

Volume traded for the day: 6.39 million shares.

Stock performance in the past twelve-month period – up 3.54%

After yesterday's close, Johnson & Johnson's market cap was at $354.43 billion.

Price to Earnings (P/E) ratio was at 23.85.

The stock has a dividend yield of 2.59%.

The stock is part of the Healthcare sector, categorized under the Drug Manufacturers - Major industry. This sector was up 1.1% at the end of the session.

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