Johnson & Johnson (JNJ) shares fell 1.1% at Tuesday's close. The company faced a major legal setback on Monday when a Baltimore jury ordered it to pay over $1.5 billion in damages to women who developed cancer from using its baby powder.

This ruling marks the highest single compensation awarded in the company's ongoing talcum powder litigation crisis. The jury found Johnson & Johnson and its subsidiaries liable for failing to warn consumers about asbestos in its talc-based products. One plaintiff, who used the baby powder daily for years, was diagnosed with peritoneal mesothelioma in January 2024.