- A federal judge has allowed Johnson & Johnson (NYSE:JNJ) to offload liabilities stemming from baby powder lawsuits. US bankruptcy judge Laurie Selber Silverstein made the ruling Thursday in Delaware, Reuters reported.
- JNJ will now be able to use a Texas “divisive merger” law, which allows a company to split into two entities and used by other companies that face asbestos litigation.
- Several patients who say that its baby powder and other talc products had asbestos and caused cancer have sued J&J. Plaintiffs include women with ovarian cancer and others battling mesothelioma.
- There is no safe level of exposure to asbestos acknowledged by the WHO. Even just a small amount of exposure could trigger cancer years down the line.
- Related Content: US House Panel Asks JNJ For Documents Over Talc Liabilities Bankruptcy Plan
- In July, J&J said in a statement to Reuters that the company had not yet decided whether it will continue to split the company up into two.
- Price Action: JNJ stock is down 0.16% at $173.02 during the market session on the last check Friday.
Medtronic’s Intrepid Valve Eliminates Mitral Regurgitation At 30 Days, Study Shows
Medtronic plc (NYSE:MDT) announced early data for its self-expanding Intrepid transcatheter mitral valve replacement (TMVR) system for mitral valve regurgitation (MR)…
