SOURCE: REUTERS
(Reuters) – Johnson & Johnson said Wednesday it has received subpoenas from the U.S. Justice Department and the Securities and Exchange Commission (SEC) related to litigation involving alleged asbestos contamination in its signature Baby Powder product line.
The company said it intends to “cooperate fully with these inquiries and will continue to defend the Company in the talc-related litigation.”
The disclosure in Johnson & Johnson’s annual report on Wednesday is the first time that the company disclosed it had received subpoenas from federal agencies regarding its talc powder products.
The Justice Department declined to comment and the SEC did not immediately respond to requests for comment.
A Reuters report on Dec. 14 revealed that Johnson & Johnson knew for decades that small amounts of asbestos, a known carcinogen, had been occasionally found in its talc and powder products, according to tests from the 1970s to the early 2000s – information it did not disclose to regulators or the public.
