Jefferies healthcare strategist Jared Holz said JJ has already lost close to USD 10 billion in market value due to the talc issue over the past year. It added that it could not confirm whether the tested product was authentic or counterfeit.The FDA said it stands by the quality of its testing and results and recommended consumers stop using the product if it comes from the affected lot.JJ has repeatedly said that its talc products are safe, and that decades of studies have shown them to be asbestos-free and that they do not cause cancer.JJ faces more than 15,000 lawsuits from consumers claiming its talc products, including Johnsons Baby Powder, caused their cancer.A jury last week ordered the company to pay USD 8 billion to a plaintiff in a case claiming JJ downplayed the risks of Risperdal. A Bloomberg report, which Reuters has confirmed, said those inquiries include a criminal grand jury investigation into how forthright JJ has been in its statements about the safety of its powders.Leigh ODell, one of the lead plaintiff attorneys, on Friday said the recall "vindicates the position weve been taking for months."

The voluntary recall announced on Friday is limited to one lot of Johnsons Baby Powder produced and shipped in the United States in 2018, the company said.The move marks the first time the company has recalled its iconic baby powder for possible asbestos contamination, and the first time US regulators have announced a finding of asbestos in the product. JJ in a news release said that testing by the US Food and Drug Administration as recently as a month ago found no asbestos in their talc. Internal company records, trial testimony and other evidence show that from at least 1971 to the early 2000s, the companys raw talc and finished powders sometimes tested positive for small amounts of asbestos.JJ shares fell more than 6 per cent to close at USD 127.JJ said it was too early to confirm whether cross-contamination of the sample had caused a false positive, whether the sample was taken from a bottle with an intact seal or whether the it was prepared in a controlled environment."It is so critical that we perform a thorough investigation of the sample to determine the source of contamination,"

Nicholson said.Since 2003, talc in Johnsons Baby Powder sold in the United States has come from China through supplier Imerys Talc America, a unit of Paris-based Imerys and a co-defendant in much of the talc litigation..On a conference call with reporters on Friday, Dr Susan Nicholson, head of Womens Health in the companys medical safety organization, called the asbestos finding "extremely unusual," adding that it was "inconsistent with our testing to date.He said further downside to JJ stock is likely to be limited because legal concerns over talc are well known and have already taken a toll on the share price. While most people exposed never develop cancer, for some, even small amounts of asbestos are enough to trigger the disease years later. She described it as an environmental contaminant most commonly found in building materials and industrial applications.The FDA test indicated the presence of no greater than 0. Company executives, mine managers, scientists, doctors and lawyers fretted over the problem and how to address it, while failing to disclose it to regulators or the public,

Reuters found.70 (98.Thousands of the lawsuits against JJ have been consolidated before a New Jersey federal judge, who is currently weighing company motions to disqualify plaintiffs expert witnesses, including the head of an asbestos testing lab who has testified in earlier trials that he found the contaminant in JJ powders. 17 alerting the company about the asbestos finding.7 pounds). That award is not expected to stand, the company and legal experts have said.The World Health Organization and other authorities recognise no safe level of exposure to asbestos.JJ has known for decades that asbestos lurked in its talc, Reuters reported last year.While talc products make up less than 1 per cent of JJ sales expected by analysts to reach USD 82 billion in 2019, the New Jersey-based healthcare-products maker considers its Baby Powder to be an essential facet of a carefully tended image as a caring company. A second Johnsons Baby Powder sample from a different lot tested negative for asbestos, the agency said.THOROUGH INVESTIGATION NEEDEDThe type of asbestos discovered by FDA testing has not been found in the mine where the company sources its talc, JJs Nicholson said."Wells Fargo analyst Larry Biegelsen said in a research note that the recall could encourage additional lawsuits and prompt the company to pursue a broader settlement.

The recall is the latest blow to the more than 130-year-old US healthcare conglomerate that is facing thousands of lawsuits over a variety of products, including baby powder, opioids, medical devices and the antipsychotic Risperdal. Asbestos is a known carcinogen that has been linked to deadly mesothelioma. It said it has started an investigation and is reviewing manufacturing records and collecting data on the distribution of the lot to determine where the product was shipped.Johnson Johnson said on Friday it is recalling around 33,000 bottles of baby powder in wholesale lotion bottles the United States after US health regulators found trace amounts of asbestos in samples taken from a bottle purchased online.JJ said in February that it had received subpoenas from the US Justice Department and the Securities and Exchange Commission for documents related to the asbestos contamination allegations."

This is one single bottle within one lot with barely a trace here," he said.JJ added that it is working with the FDA to determine the integrity of the tested sample as well as the validity of test results.00002 per cent of chrysotile asbestos in the tested sample, JJ said. Imerys and JJ said the Chinese talc is safe.The FDA said in a statement that the latest sampling took place during its testing for asbestos in talc-containing cosmetics that it began reporting this year.JJ said on the conference call that it received a report from the FDA on Oct

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