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A report today released by Reuters suggests that Johnson & Johnson knew about trace amounts of asbestos in its baby powder product as early as 1971. In the wake of this report, J&J shares dropped 10 percent since this morning.
Reuters analyzed company memos, confidential documents and other internal documents and found that from 1971 up until the early 2000s, the company was well aware that some of its raw talc and finished powder products contained trace amounts of asbestos, but the company never disclosed that information to consumers.
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