J&J falls after US judge rejects $10 bln baby powder settlement

Drug and devices maker Johnson & Johnson JNJ.N falls 2.7% to $161.41 premarket

U.S. bankruptcy judge rejects JNJ's $10 billion proposal to end tens of thousands of lawsuits alleging that its baby powder and other talc products cause ovarian cancer

This is the third time co's bankruptcy strategy has failed in court

J&J has been attempting to resolve the lawsuits through subsidiary company's bankruptcy, after two previous bankruptcy attempts failed in other courts

Leerink Partners says since the bankruptcy plan was dismissed, claimants can continue to proceed with individual trials against co

Stock gains 14.7% this year, as of last close