Product News and Recalls

J&J CEO taking over as chairman

Johnson & Johnson CEO Alex Gorsky has been elected chairman of the board for the company, Bloomberg reports. He will replace Bill Weldon, who stepped down as CEO in April and is retiring next year.

Weldon had been in charge during some prominent missteps for the company, including a string of recalls.

An all-metal artificial hip manufactured by Johnson & Johnson subsidiary DePuy Orthopaedics was recalled in 2010 after a number of studies showed nearly half of the devices needed replacement within six years. The implants were also prone to shedding toxic metal debris in patients’ soft tissues.

This year, Johnson & Johnson recalled four different types of transvaginal mesh implants, used to treat urinary incontinence and pelvic organ prolapse, following widespread complaints that they caused severe pain and injuries for recipients.

Other recalls included prescription drugs; over-the-counter medicines such as Tylenol, Motrin and Benadryl; and a bone putty used to stop bleeding because it could catch fire during surgery.

The report says Weldon will begin to receive $95.1 million in deferred and long-term compensation and $48 million in pension payments upon retirement.

You should consult with a doctor if you have any ongoing symptoms or health concerns from a DePuy hip or transvaginal mesh implant. If you have significant injuries, you should also consult with a DePuy hip or transvaginal mesh lawyer to discuss your legal rights.

See the story here:

http://www.businessweek.com/news/2012-11-30/johnson-and-johnson-chief-gorsky-elected-to-chairman