J&J shares nosedive on report company knew of asbestos in baby powder
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(Reuters) - Shares of Johnson & Johnson tumbled 12 percent on Friday and were on track to post their biggest percentage drop in more than 16 years, after Reuters reported that the pharma major knew for decades that cancer-causing asbestos lurked in its Baby Powder.The decline in shares erased about $47 billion from the company's market capitalization with investors worrying about the fallout of the report as it faces thousands of talc-related lawsuits."It is not surprising that an article from..