(MENAFN) Johnson & Johnson has rushed to control fallout from a Reuters report claiming the healthcare corporation knew for decades that cancer-causing asbestos were included in its Baby Powder.
It has taken out newspaper ads and prepared its CEO for his first television interview since it has lost tens of billions of dollars from its market value.
Shares of the company have declined nearly three percent in New York Stock Exchange trading.
J&J also announced that it would repurchase up to USD5 billion of its common stock.
MENAFN1812201800450000ID1097847220
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.