Days after a scathing Reuters report accusing consumer health care giant Johnson & Johnson of a decades-long cover-up of evidence that its talcum powder products contained cancer-causing asbestos, the company’s market value plummeted more than $50 billion. In response, J&J announced it plans to repurchase $5 billion shares. “Based on our continued strong performance and more importantly, the confidence we have in our business going forward, the Board of Directors and management team believe that the company’s shares are an attractive investment opportunity,” CEO Alex Gorsky said in a statement. The company also published a video on its website and ... Read More
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