Johnson & Johnson: shares still falling after talc scandal

(CercleFinance.com) - Johnson & Johnson shares extend their losses on Monday, as investors did not seem to be reassured by the US healthcare giant's stance after a scandal linked to talk hit the shares on Friday.

J&J shares are currently down 3.3%, while New York's broader Dow Jones index is down 1.1%.

The stock had slid over 10%, wiping out roughly 45 billion dollars in market-cap on Friday following news that the company was aware its baby powder contained traces of asbestos.

In a statement, the company said the Reuters article was 'one-sided, false, and inflammatory.'

'Johnson & Johnson's baby powder is safe and asbestos-free,' the group commented. 'Studies of more than 100,000 men and women show that talc does not cause cancer or asbestos-related disease,' it added.

J&J said that thousands of independent tests by regulators and the world's leading labs have showed that its baby powder has never contained asbestos.

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