Johnson & Johnson, under fire, has a history of weather-related disorders: NPR

In the health care sector, there are few brands better known than Johnson & Johnson. The manufacturer of consumer items ranging from dressing to baby shampoo has been the subject of much controversy over its 133 years of existence. Now he is challenging accusations of having contributed to the opioid epidemic in the country.

Stock in Johnson & Johnson was beaten last week, while a lawsuit had begun in Oklahoma. State officials claimed that the giant company had triggered a deadly public health crisis. Shares of the company fell 4% last Wednesday and took less than 1% the next day.

The state of Oklahoma has accused the company of creating a "public nuisance" by over-supplying prescription painkillers.

"If you provide too much, people will die," said attorney Brad Beckworth, who represents the state.

Johnson & Johnson denies any wrongdoing.

The fall in Wednesday's shares cost J & J's market value about $ 20 billion – a significant drop for the company.

Vamil Divan, an analyst at Credit Suisse, thinks the market has overreacted. He noted that J & J was responsible for a small fraction of prescription pain relievers in Oklahoma, and that the company's drugs were primarily prescribed to patients who were already using other opioids.

"Clearly, the epidemic of opioids is a major epidemic," said Divan. "I certainly do not try to downplay that, and I do not think society is either, but the role that Johnson & Johnson has specifically played here seems to be relatively limited."

Divan said Johnson & Johnson could be more exposed to a series of lawsuits involving his baby powder. Last year, a St. Louis Jury ordered Johnson & Johnson to pay $ 4.7 billion to women who were developing ovarian cancer after using talc. The company is appealing.

The stakes in this case and in similar cases are particularly important for the company because they threaten its reliability. Consumers know the best of Johnson & Johnson with its range of baby products – baby oil, baby shampoo and baby powder – that have been around for generations.

In December, Reuters announced that Johnson & Johnson had known for decades that the raw material in talc could be contaminated with asbestos and sought to conceal it. The report triggered a 10% fall in the company's share price. J & J called the report "false and inflammatory".

"We think unequivocally that our talcum powder, our baby powder, does not contain asbestos," executive director Alex Gorsky told CNBC.

Decades ago, Johnson & Johnson was at the center of another more dramatic health alert. In 1982, seven people died after taking extra strong Tylenol capsules filled with cyanide.

Johnson & Johnson, which manufactures Tylenol, has ordered a nationwide recall and has redesigned its packaging to prevent further tampering. The costly and proactive response is often presented as a model of corporate responsibility.

"The Tylenol episode has created what could still be called standard to handle a crisis," said Stephen Greyser, a professor at Harvard Business School, who documented the episode.

He said the company was guided by its official credo, according to which Johnson & Johnson's primary responsibility was to patients, doctors, nurses, and the mothers and fathers who use its products.

"The creed has always been clear on the fact that if we focus on customers, the profits will arrive," said Greyser.

Tylenol has recovered and is now one of the best selling over-the-counter pain relievers.

In the years that followed, Johnson & Johnson developed well beyond its consumer products wardrobe. Home appliance brands, including Listerine and Lubriderm, accounted for only 14% of the company 's sales in the United States last year. Today, half of its revenues come from pharmaceuticals used to treat everything from depression to blood clots.

These products do not match Johnson & Johnson as powders or baby powder. But they are much bigger producers of money. And while the drug industry presents its own challenges – including generic competition, government regulation, and lawsuits like Oklahoma – the Credit Suisse analyst, Divan, is optimistic about in the future of Johnson & Johnson.

"Nothing is ever 100%, there is always some uncertainty," he said. "But you're relatively reassured that this is a company that can handle some of these problems that might arise, and if you look at its history, you'll also find that over 1 year, 3 years, 5 years, 10 years, usually this company has delivered. "

Johnson & Johnson's famous belief is that when the company operates in accordance with its principles, shareholders must earn a fair return.