J&J announces $5 billion share buyback after shares extend losses


Johnson & Johnson said on Monday it plans to buy back up to $5 billion of its stock, after a Reuters report on Friday that the company knew for decades that its Baby Powder contained cancer-causing asbestos wiped about $40 billion from its market value. Shares of the company closed down 3 percent on Monday, extending a 10 percent fall on Friday after the report was published.



from Biotech News