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

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By Reuters
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)

(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)