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Johnson & Johnson (
JNJ) - Get Report shares moved lower Tuesday after the U.S. Supreme Court declined to hear the company s appeal of a $2.1 billion penalty from a Missouri court judgement that linked ovarian cancer to its talc products.
The Supreme Court s decision to pass on the appeal leaves Johnson & Johnson liable for at least $2.1 billion in payments to 22 women who said they developed the cancer from the use of products including is iconic Baby Powder produced by Johnson & Johnson that included asbestos. The original damages of $4.7 billion, the largest in U.S. history at the time, were reduced on appeal last year.