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Johnson & Johnson, Imerys ordered by court to pay at least US$37mln in asbestos suit

Published: 15:15 06 Apr 2018 EDT

Johnson & Johnson logo under magnifying glass
Johnson & Johnson found liable for 70% of damages

Johnson & Johnson (NYSE:JNJ) and talc-mining company Imerys SA (NK:PA) were ordered to pay at least US$37mln to an investment banker who claimed their talc-based products caused him to develop a deadly cancer, Bloomberg News reported.

Jurors at a state court in New Brunswick, New Jersey, found that the two companies hid that their products, which include J&J’s iconic Baby Powder, were tainted by asbestos, the report said yesterday. In the suit, Stephen Lanzo alleged he developed mesothelioma, a type of cancer, after using the powder for more than 30 years, Bloomberg said.

The jurors found that J&J is liable for 70% of the damages, with Imerys responsible for the rest, according the report.

J&J shares fell US3% to $126.78 at 3:10 p.m. Imerys, a French producer of industrial minerals, dropped 1.8% in Paris.

 

 

 

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