It’s a big shock to Johnson&Johnson brand as it was ordered to pay $29 million to a dying California woman who accused asbestos-tainted talc of causing her cancer.
Jurors in state court in Oakland, California held Johnson&Johnson responsible for Teresa Leavitt’s mesothelioma, cancer linked to asbestos exposure. The panel, which included a lawyer and a state-court judge, also found J&J didn’t warn Leavitt its baby powder was tainted with the carcinogen.
The stocks of J&J dropped as much as 2% in after-hours trading to $136.40 after the verdict was announced. It closed at $139.41 Wednesday in New York. The company’s shares have been under pressure over the past six months because of the growing talc litigation.
The verdict is J&J’s seventh trial loss over claims it hid the health risks of its baby powder for 50 years. It’s the first defeat since a Missouri jury ordered the company last year to pay $4.69 billion to 22 women who blamed their cancer on the product.