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World Business Report: First broadcast 2018/12/14 22:32 GMT: Johnson & Johnson shares drop after asbestos report

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Johnson & Johnson shares drop after asbestos report

First broadcast 2018/12/14 22:32 GMT

First broadcast 2018/12/14 22:32 GMT: Johnson & Johnson shares drop after asbestos report

BBC World Service - World Business Report, Johnson & Johnson shares drop after asbestos report

The company faces lawsuits claiming that its talc products caused cancer, which it denies

Shares in Johnson & Johnson plunged more than 10% on Friday, after Reuters reported that the US pharmaceutical giant had known about asbestos tainting its talcum powder for decades.
The report comes as the company faces thousands of lawsuits claiming that its talc products caused cancer.
Reuters' review of documents found the company was aware of trace amounts of asbestos since at least 1971. Lisa Girion talks to the programme.
J&J lawyers said: "Johnson & Johnson's baby powder is safe and asbestos-free... The Reuters article is one-sided, false and inflammatory."

A deal at global climate talks in Poland looks more likely after a new draft was released. Frank Jordans is a reporter for the Associated Press at the talks in Katowice, and fills us in on the latest developments. And the environmental campaigner George Monbiot considers the future for environmental policy in France, after President Macron cancelled a proposed fuel tax rise in response to the 'yellow vest' protests in Paris over recent weekends. Plus we look back at the rest of the week's big business headlines with Jessica Dye of the Financial Times in New York, and Dani Burger of Bloomberg in London. 

(Picture: Johnson's baby powder. Picture credit: Getty Images.)

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