FMP

FMP

Enter

Johnson & Johnson (JNJ) has been ordered to pay $260 million to an Oregon woman who claims their talc powder caused her mesothelioma, a cancer linked to asbesto

J&J Hit with $260 Million Verdict in Oregon Talc Powder Lawsuit

-

twitterlinkedinfacebook
blog post cover photo

Image credit: Guido Hofmann

Johnson & Johnson (JNJ) has been ordered to pay $260 million to an Oregon woman who claims their talc powder caused her mesothelioma, a cancer linked to asbestos exposure. This verdict comes amidst J&J's ongoing efforts to settle thousands of similar lawsuits through a $6.48 billion pre-packaged bankruptcy.

Key Points:

  • A jury in Portland, Oregon awarded $260 million to Kyung Lee, who developed mesothelioma at the age of 48.
  • Lee alleges she used J&J's talc powder for over 30 years, starting in infancy when her mother used it on her and continuing as a deodorant.
  • The verdict includes $60 million in compensatory damages and $200 million in punitive damages, covering both Lee and her husband.
  • J&J denies the allegations, stating decades of scientific research confirms their talc is safe and doesn't cause cancer. They plan to appeal the verdict.

Continuing Legal Battles

This case highlights the ongoing legal battles surrounding J&J's talc products. While J&J seeks a large-scale settlement, individual lawsuits continue, with some juries awarding significant damages to plaintiffs.

Safety Concerns Persist

Lee's case reignites concerns about the safety of J&J's talc powder, particularly due to her claim of asbestos contamination. J&J maintains their product is safe, but the verdict reflects lingering public anxieties.

Uncertain Future

The outcome of J&J's appeal and the success of their proposed settlement remain to be seen. This case adds another layer of complexity to the ongoing legal saga surrounding J&J's talc powder.

Industry PE Ratio as a Valuation Tool

For investors interested in comparing Intel's valuation relative to its industry peers, the Financial Modeling Prep (FMP) Industry PE Ratio API (https://intelligence.financialmodelingprep.com/developer/docs/industries-pe-ratio-api) provides a valuable resource. This API offers daily updated industry PE ratios, allowing you to assess whether the technology sector, where Intel operates, is currently overvalued or undervalued. By leveraging this API and similar valuation tools, investors can make more informed decisions about their technology holdings.

Other Blogs

Jan 16, 2024 4:18 PM - Samuel Abdelshahid

Budget-Friendly Trading Laptops: Maximizing Value without Compromising Performance

In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device.  However, the quest for a budget-friendly trading laptop t...

blog post title

Jan 21, 2024 4:00 AM - Parth Sanghvi

Understanding Profitability Metrics: Exploring ROE, ROA, and Net Profit Margin

Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...

blog post title

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep