Shares in Johnson & Johnson plunged more than 10% on Friday, after Reuters reported that the US pharmaceutical giant had known about asbestos tainting its talcum powder for decades.
Johnson & Johnson has been ordered to pay US$ 4.7 billion in damages to 22 women who alleged that its talc products caused them to develop ovarian cancer. A jury in the US state of Missouri initially awarded US$ 550m in compensation and added US$ 4.1bn in punitive damages.
Brazilian police arrested a senior General Electric Co executive on Wednesday, as part of a sprawling investigation into fraud in medical equipment tenders overseen by health authorities in the state of Rio de Janeiro, police and prosecutors said.
Johnson & Johnson has been ordered to pay US$417m to a woman who says she developed ovarian cancer after using products such as baby powder. The California jury's decision marks the largest award yet in a string of lawsuits that claim the firm did not adequately warn about cancer risks from talc-based products.