Johnson & Johnson recalls 33,000 baby powder products in U.S. following asbestos discovery

Johnson & Johnson recalls 33,000 baby powder products in U.S. following asbestos discovery

Troubled Johnson & Johnson has recalled 33,000 bottles of its baby powder products within the U.S. following the Food and Drug Administration (FDA) discovery of asbestos within a sample.   

The FDA discovered trace amounts of the harmful carcinogen after testing a bottle purchased online. Shares of the personal care company fell 6% to $127.70.        

The discovery is a significant development in the ongoing case against J&J’s baby powder products, and the first time the company has ordered a recall. Indeed, it is also the first time the health regulator has announced the discovery of asbestos within its products.

Another blow for Johnson & Johnson, the case will do little to alleviate investor concerns, despite the temporary confidence boost of bolstered Q3 results as announced last week.

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