Kenvue Stock (KVUE) Plunges on Legal Woes Related to Talc Products
Kenvue's shares tumbled more than 13% on Thursday, extending its year-to-date decline to 34%, as the consumer goods company faces mounting legal challenges in the UK over talc-based products. The lawsuit, filed by KP Law at the English High Court, represents over 3,000 claimants alleging that Johnson & Johnson's baby powder caused ovarian cancer, mesothelioma, and other diseases between 1965 and 2023. The case is estimated to be worth £1 billion ($1.34 billion).
This legal setback compounds existing pressures on Kenvue, which was spun off from Johnson & Johnson in 2023. The company retains liability for talc-related litigation outside the US and Canada. The stock's recent volatility underscores the market's sensitivity to product liability risks in the consumer health sector.
