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Johnson & Johnson Stock Lower After Ending Baby Powder Sales

by Atlanta Business Journal

Updated at 9:39 am EST

Johnson & Johnson  (JNJ)  shares edged lower Friday after the consumer healthcare group said it would completely halt the sale of its iconic talc-based baby powder products next year.

Johnson & Johnson, which faces around 38,000 lawsuits centered around links to cancer-causing asbestos found in the talc-based product , stopped selling Baby Powder in the U.S. and Canada in 2020. The group, which began selling talc-based Baby Powder in 1894, said late Thursday that it will transition to “an all cornstarch-based baby powder portfolio” starting in 2023.

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