Johnson & Johnson To Stop Selling Talcum Powder Globally
In the midst of several Mounting Lawsuits and lots of health acquisitions, Johnson & Johnson announced that finally they are going to stop selling baby-talcum powder.
Following the company’s decision to cease the product in the USA of America and amid ongoing legal disputes, Johnson & Johnson announced its decision to stop selling talc-based baby powder products globally in 2023.
J&J To Discontinue Talc-Based Baby-Powder
On August 11, J&J announced that, following a review of its portfolio, it had made the “commercial choice” to switch all of its baby powder products to cornstarch from talcum powder.
According to the health giant, which upholds product safety, it has been sued for hiding cancer dangers associated with its talc-based baby powder for almost ten years.
Witt further mentioned that this choice was made as part of a global portfolio evaluation that took into account a wide range of variables, such as regional variations in product demand and shifting consumer trends and tastes.
In post-market trade, shares of New Brunswick, a New Jersey-based corporation, increased by less than 1%. As of Thursday’s close, they had decreased by 2.3% for the year.
J&J made the decision to remove its talc-based powders from the Canadian and US markets in May 2020 while dealing with thousands of lawsuits accusing the product of spreading cancer to some users.
The company cited declining sales as the reason for this “commercial decision,” which it made at the time.
Lawsuits & Health Acquisitions On J&J
Because the mineral may keep skin dry but also prevent diaper rash, talcum powder has been used in infant products for a very long time.
However, the mines that create the powder can also produce asbestos, a mineral that was historically utilized in goods like building insulation and that researchers have frequently linked to cancer.
Several consumer product companies have also discovered that maize starch can provide talc-like advantages without the danger of asbestos.
The health company struggled for years to find a method to limit its legal obligations.
According to a business filing with the U.S. Securities and Exchange Commission from July, it is currently subject to 40,300 litigation in America over its talc-based powders.
Last year, J&J asserted that it was having difficulty managing the cases and requested bankruptcy protection for its recently formed LTL Management LLC arm.
