Johnson & Johnson announced today that it will transition to an all cornstarch-based baby powder portfolio, and will globally discontinue talc-based powder in 2023.
“We continuously evaluate and optimize our portfolio to best position the business for long-term growth,” the company said in a statement. “This transition will help simplify our product offerings, deliver sustainable innovation, and meet the needs of our consumers, customers and evolving global trends.”
The transition comes amid the company’s legal troubles surrounding the product, with people claiming that it made them ill. In July, the company named Liz Forminard as its new general counsel.
However, the company stood by the safety of its products, and said that the talc-based powder does not contain asbestos, and does not cause cancer. Shares were little changed postmarket after the news.©2022 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.