Johnson & Johnson Receives Federal Subpoena for Alleged Asbestos in Baby Powder It is the first time that the company acknowledged it had received subpoenas regarding its baby powder product line. In its annual report on Feb. 20,
Johnson & Johnson said it intends to On Dec. 14, Reuters revealed that trace amounts of asbestos, a known carcinogen, had been found in Johnson & Johnson's talc products from the 1970s to the early 2000s. The Reuters report caused Johnson & Johnson stock to fall, about a $40 billion market value loss in one day. After the release of Wednesday's annual report, Johnson & Johnson shares fell another 1.4% to $134.43. There are about 13,000 pending lawsuits involving Johnson & Johnson's
talc-based powders. Johnson & Johnson, via statement