By Brian Swint
Johnson & Johnson, the pharmaceutical and biotech company, has spent years trying to fend off lawsuits related to its talc products. Its latest attempt just failed again.
The stock fell 3.6% in premarket trading Tuesday to $159.95. Coming into the session, the shares had gained 15% this year.
The company faces sweeping litigation from accusations that its baby powder and other talc-based items harmed consumers. On Monday, a bankruptcy judge in Texas rejected a proposal that would have ended current and future lawsuits related to the talc products' alleged links to cancer.
It had tried to resolve the cases using a subsidiary company's bankruptcy; this was the third attempt at such a resolution. But Judge Christopher Lopez, based in Houston, said the company didn't belong in chapter 11, which is a legal status that would have protected it from further claims.
J&J said in a statement that it wouldn't appeal the decision, but would continue to fight individual claims in court.
Write to Brian Swint at brian.swint@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 01, 2025 08:15 ET (12:15 GMT)
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