Guilty powder : Johnson & Johnson faces a huge financial (and more) storm, which brings the brand, face to face with over 15 thousand lawsuits and an incalculable cost in money and fame
(JUSTIN SULLIVAN / GETTY IMAGES)
Johnson & Johnson has announced that it is discontinuing production of the famous Baby Powder in the United States and Canada, in order to (re) examine the possibility of the presence of asbestos in the composition of the product. This news are not new, as already from 1971 and until the first years of the new millennium, in archival material of the company itself, tests were detected which listed small amounts of asbestos in the Baby Powder products. Johnson & Johnson (J & J) shares fell more than 6% today (May 20th, 2020), a record-drop for the title in the last ten years. The decline resulted in a capital loss of $ 24 billion. J & J is battling about 6,000 cases claiming that its powder and shower products cause ovarian cancer. The products have also been linked to mesothelioma, a rare and deadly form of cancer that affects the sensitive tissue that aligns the body’s cavities. J & J insists on the safety and cleanliness of its virtual product.
2020 first brand-scandal is here (?).