Johnson & Johnson said on Monday it plans to buy back up to $5 billion of its stock, after a Reuters report on Friday that the company knew for decades that its Baby Powder contained cancer-causing asbestos wiped about $40 billion from its market value. J&J knew about the presence of small amounts of asbestos in its products as early as 1971, a Reuters examination of company memos, internal reports and other confidential documents showed. The share repurchase was just the latest effort the healthcare conglomerate has made to boost investor confidence.
from Yahoo News - Latest News & Headlines https://ift.tt/2GqlBjy
via Latest News
Comments
Post a Comment