Johnson & Johnson Stock Higher After Ending Baby Powder Sales

Updated at 5:35 am EST

Johnson & Johnson  (JNJ)  shares edged higher Friday after the consumer healthcare group said it would completely halt the sale of its iconic talc-based baby powder products next year.

Johnson & Johnson, which faces around 38,000 lawsuits centered around links to cancer-causing asbestos found in the talc-based product , stopped selling Baby Powder in the U.S. and Canada in 2020. The group, which began selling talc-based Baby Powder in 1894, said late Thursday that it will transition to “an all cornstarch-based baby powder portfolio” starting in 2023.

Source: https://www.thestreet.com/markets/johnson-johnson-stock-higher-after-ending-baby-powder-sales?puc=yahoo&cm_ven=YAHOO&yptr=yahoo