Johnson & Johnson's intraday plunge over 'asbestos report' wipes out $45 bn

The last time shares of Johnson & Johnsons came under this much pressure was due to asbestos concerns back in February

Johnson & Johnson’s drop of 11 per cent in Friday’s trading may bring on deja vu for some investors after a Reuters report said the company knew for decades that asbestos was sometimes present in its baby powder.

Bloomberg News reported in September 2017 that documents unsealed in a lawsuit showed that J&J has known for decades that its talc products include asbestos fibers and that the exposure to those fibers can cause ovarian cancer.

The last time shares of the New Brunswick, New Jersey-based drugmaker came under this much pressure was due to asbestos concerns back in February, after