Johnson & Johnson loses motion to overturn $4.7 billion talc verdict

FILE PHOTO: Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York October 15, 2015. REUTERS/Lucas Jackson/File Photo - Copyright Lucas Jackson(Reuters)

By Reuters

Published on 19/12/2018 - 19:34•Updated 26/04/2024 - 14:26

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(Reuters) - Healthcare conglomerate Johnson & Johnson <JNJ.N> has lost its motion to reverse a verdict that awarded $4.7 billion (3.71 billion pounds) to women who blamed ovarian cancer on asbestos in the company's Baby Powder and other talc products, a Missouri court ruled on Wednesday.

Shares of the company reversed course to slip 0.6 percent to $129.38 in afternoon trading.

(Reporting by Manas Mishra in Bengaluru)

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