J&J shares turn sharply lower after company loses motion to overturn $4.7 billion talc verdict

Healthcare conglomerate Johnson & Johnson has lost its motion to reverse a verdict that awarded $4.7 billion to women who blamed ovarian cancer on asbestos in the company's Baby Powder and other talc products, a Missouri court ruled on Wednesday.

Shares of the company reversed course to slip 1.4 percent to $128.57 in afternoon trading.

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