Johnson & Johnson knew for decades that its baby powder contained asbestos, Reuters said in a new report that drove the company's shares down more than 10 percent Friday.
Reuters based its report on a review of documents and deposition and trial testimony.
Those involved discussed the problem but they did not disclose it to regulators or the public, Reuters' examination found.
The company released a statement Friday calling the Reuters article "one-sided, false and inflammatory.".
The company has faced thousands of lawsuits alleging its talc baby powder products contain asbestos and caused ovarian and other cancers.
A Missouri jury in July ordered J&J to pay $4.69 billion in a case involving 22 women and their families.
By Friday's close, J&J stock had fallen 10.04 percent, its worst day in more than a decade, when its shares closed down 15.85 on July 19, 2002. »