Johnson & Johnson reportedly knew for decades that there was asbestos in its baby powder

Johnson & Johnson had evidence for decades that its baby powder contained asbestos but did not disclose these findings with the Food and Drug Administration, a Reuters investigation discovered.

This investigation comes as the company is being sued by thousands of plaintiffs who say the talc in its products causes cancer. According to the report, Johnson & Johnson told the FDA in 1976 that asbestos was not "detected in any sample" of talc, but they didn't mention three tests that did find asbestos in its talc. In one of the tests, the amount of asbestos was reported to be "rather high." One professor looked at a sample of Shower to Shower powder and wrote that there was "incontrovertible asbestos."

Johnson & Johnson disputed the findings of this report, saying that "thousands of independent tests prove our talc does not contain asbestos or cause cancer" and that these findings were outliers. A New Jersey judge in June said that "providing the FDA favorable results showing no asbestos and withholding or failing to provide unfavorable results, which show asbestos, is a form of a misrepresentation by omission." Following the publication of this piece, Johnson & Johnson stock dropped 10.8 percent, and CNBC reports it's on pace for its worst day since 2002. Read the full investigation at Reuters.

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