💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Missouri judge affirms $4.69 billion talc verdict, J&J vows to appeal

Published 08/22/2018, 03:06 PM
Updated 08/22/2018, 03:10 PM
© Reuters. FILE PHOTO: Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York
JNJ
-

By Tina Bellon

(Reuters) - A Missouri trial court judge has affirmed the massive $4.69 billion verdict against Johnson & Johnson (N:JNJ) in a case involving 22 women and their families who alleged the company's talc-based products, including its baby powder, contain asbestos and caused them to develop ovarian cancer.

J&J in a statement on Wednesday said it would continue to pursue all available appellate remedies. The company, which denies the allegations and says its talc is safe, previously said it was confident the verdict would be overturned on appeal.

In a series of orders on Tuesday evening, Judge Rex Burlison of the Circuit Court of the City of St. Louis affirmed the jury's July 12 decision in favor of the women, six of whom have died.

"The Court finds there is no just reason for delay and hereby certifies this judgment as final for purposes of appeal," Burlison wrote in the judgments.

Defendants in civil cases can generally file so-called post-trial motions, asking the trial court judge to reduce a verdict or set it aside entirely, but J&J did not file such motions. It can now take up the cases with a Missouri appeals court.

The jury found the company's talc-based products had caused the women's cancer, awarding $550 million in compensatory damages and $4.14 billion in punitive damages to all plaintiffs.

Mark Lanier, a lawyer for the women, in a statement on Wednesday said he was confident the judgment would be upheld on appeal.

"We hope this judgment will compel Johnson & Johnson to take responsible, effective action in acknowledging the inherent dangers of the use of talc, and specifically the use of Johnson's Baby Powder and similar products," Lanier said.

The verdict was the largest to date arising from lawsuits alleging products like J&J's Baby Powder cause cancer. The company faces some 10,600 cases nationwide over talc, according to an August regulatory filing.

J&J has called the five-week St. Louis trial "fundamentally unfair" and its Chief Executive Alex Gorsky has expressed confidence the jury decision will be overturned on appeal.

© Reuters. FILE PHOTO: Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York

J&J has been successful at having other talc verdicts in Missouri thrown out on appeal. A lawyer for the company told Reuters J&J would focus on jurisdictional arguments and put forth its case that scientific studies overwhelmingly show talc itself is safe and the company's talc-based products never contained asbestos.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.