Home » Recalls Trim $900 Million From J&J’s 2010 Sales
Recalls Trim $900 Million From J&J’s 2010 Sales
Johnson & Johnson’s (J&J) string of consumer product recalls cost the company $900 million in sales last year, and more recalls are possible as the company begins scrutinizing external manufacturers. J&J subsidiary McNeil Consumer Healthcare’s OTC product recalls, coupled with the suspension of production at its Fort Washington, Pa., plant, cost the company about $300 million in fourth quarter sales and about $900 million in total year sales, Louise Mehrotra, vice president of investor relations, said during a conference call Tuesday. Net earnings were $1.9 billion for the quarter compared with $2.2 billion for the same period in 2009.
Drug Industry Daily
Drug Industry Daily
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