Johnson & Johnson tumbles after report says it knew for decades that its baby powder contained asbestos

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Johnson & Johnson shares sank 8% Friday after Reuters reported the pharmaceutical giant knew for decades that its baby powder contained asbestos.

Reuters reviewed documents, deposition, and trial testimony from at least 1971 to the early 2000s that they say showed powders and raw talc sometimes tested positively for small traces of asbestos.

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