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The Highwire with Del Bigtree

PHARMA GIANT LOOKS TO ESCAPE RECKONING FOR THIRD TIME

The Highwire with Del Bigtree

The Highwire with Del Bigtree

News, Society & Culture, Health & Fitness

4.93.4K Ratings

🗓️ 8 November 2023

⏱️ 8 minutes

🧾️ Download transcript

Summary

One of the world’s most powerful corporations is on the ropes as Johnson & Johnson is looking at its third attempt at leveraging bankruptcy to avoid an onslaught of lawsuits over asbestos-laced baby powder, which they allegedly hide the dangers from consumers for decades.

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Transcript

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0:00.0

You and I have been reporting on so many stories even way before COVID even started and people even knew about this.

0:07.8

One of these stories we've been tracking and they had our teeth in for years is the story about Johnson and Johnson and their baby powder.

0:15.2

So people may have seen this headline recently, but Johnson Johnson has been in this legal

0:21.1

battle and this is Bloomberg law this is the most recent one

0:23.7

J and J weighs third bankruptcy try to settle baby powder suits. So what they're

0:30.0

talking about here is this baby powder that people you know they put it on and

0:35.9

it aerosolizes you're breathing it in well there's asbestos in it asbestos is

0:39.6

really bad for you and this there's a lot of people alleging that this causes cancer and

0:44.5

they're bringing it to the forefront here the at the moment Johnson Johnson

0:49.1

Johnson is looking at about 51,000 people suing them.

0:52.8

They're expecting in a call, a financing call,

0:56.5

they said about 100,000 claims they're expecting.

0:59.3

And it really kicked off in 2018

1:02.0

when they were forced to pay 4.7 billion dollars to a group of

1:05.6

plaintiffs. Johnson and Johnson told to pay 4.7 billion in baby powder

1:09.4

lawsuit. Yeah I was going to say it's a step beyond just alleging, I mean they have lost in court, it's opened up the floodgates, which is, you know, we know what asbestos does.

1:19.7

We have their own internal documents and emails knowingly, knowingly recognizing that their mining practices

1:26.3

for TAL cannot, are right next to asbestos, somehow they're connected, there's no way to get it out,

1:31.5

and they literally make that medical decision that all these companies do.

1:35.0

Well, by the time anyone finds out about it, they'll never know.

1:38.0

We've got them.

1:39.0

So they're admitting they know about this, and yet they're still trying to get out of trying you know having

...

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