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Business Wars Daily

J&J's Bankruptcy Scheme is Squashed…For Now

Business Wars Daily

Audible

Business, Business News, News, Daily News

4.6717 Ratings

🗓️ 6 February 2023

⏱️ 6 minutes

🧾️ Download transcript

Summary

Today is Monday, February 6, and we're looking at Johnson & Johnson vs. 3M.

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Transcript

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0:00.0

Wonderly Plus subscribers can listen to Business Wars daily ad-free right now.

0:04.8

Join Wonderly Plus in the Wondery app or on Apple Podcasts.

0:08.5

If you or someone you care about has cancer,

0:11.5

Macmillan Cancer Support's online community is here to help from day one.

0:16.1

Macmillan's free online forum provides a safe space to get support from both experts and others who've been

0:22.0

there. Members support each other anonymously, sharing what's helped them on a range of subjects,

0:27.5

from dealing with side effects such as hair loss and fatigue, to money worries and managing work,

0:32.9

or talking with children about a diagnosis. There are different forums on cancer types or experiences,

0:39.0

opportunities to ask an expert, and blog posts.

0:42.0

Find support 24-7 from people who get what it's like to have cancer.

0:46.7

To join, search McMillan online community.

0:49.2

Thank you. From Wondery, I'm David Brown, and this is Business Wars Daily on this Monday, February 6th.

1:08.6

Happy start of the work week, everyone.

1:10.7

In one day last week,

1:12.6

shares of 3M fell by over 2%. That company mostly makes industrial products, but you may know it for

1:18.8

things like Post-it notes and scotch tape. So why did shares go down? Well, this wasn't just a normal

1:24.9

market rumbling. Shares declined right around the time a decision was handed down in a lawsuit, involving an entirely different company.

1:33.7

Stay with us here.

1:34.8

The company involved in the lawsuit is Johnson & Johnson, maker of home health products, like bandages and baby powder.

1:42.7

Yes, this may ring a bell.

1:46.0

We've told you here on the show how in recent years J&J has been slapped with around 40,000 lawsuits about its baby powder. Plaintiffs

1:52.4

alleged that the talc used in the powder caused cancer. The claims have already cost J&J's consumer

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