Posts Tagged 'erosion'

Bloomberg: J&J sold mesh implant before FDA approval

According to a Bloomberg report, Johnson & Johnson sold a vaginal mesh implant for three years before the federal Food and Drug Administration approved the device.

The report says Johnson & Johnson introduced the Gynecare Prolift device in March 2005 without appropriate clearance. The FDA learned of the device in 2007 when Johnson & Johnson was trying to get approval for a related device.

The FDA approved both devices in 2008, after Johnson & Johnson took advantage of a loophole that obliges ...

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Departing Johnson & Johnson CEO Weldon getting $143.5 million

Departing Johnson & Johnson Chief Executive Officer William C. Weldon, who is leaving after a spate of disastrous recalls, will get $143.5 million in retirement pay, according to Bloomberg.

Bloomberg reports that Weldon, 63, will remain chairman. He amassed $95.1 million in deferred and long-term compensation during his 40 years with the company, and his pension has a present value of $48.4 million.

The report mentions that the company struggled with recalls of artificial hip implants and over-the-counter drugs, and safety concerns ...

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