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Johnson & Johnson's Stock Falls After Report on Asbestos in Baby Powder

Johnson & Johnson saw its stocks suffer their biggest drop in 16 years, following a media report that alleged the company concealed for decades that trace amounts of asbestos was in its baby powder. Shares of the U.S. pharmaceutical and cosmetics group fell 9 percent Friday, wiping out tens of billions of dollars from the company's market capitalization. Linked to ovarian cancer The report Friday, by Reuters news service, cited documents released as part of a...

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