The investment blog Seeking Alpha says Johnson & Johnson is doing quite well financially despite its recent problems – including high-profile and costly recalls of faulty medical devices.
The report notes that Warren Buffett’s Berkshire Hathaway Inc. dropped two-thirds of its holdings in the company, following a $1.1 billion fine from an Arkansas jury that ruled the firm misled doctors and patients about the risks of antipsychotic medication Risperdal.
Johnson & Johnson ...
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Johnson & Johnson will pay 36 states and the District of Columbia $181 million as a settlement for allegations that the company inappropriately marketed its antipsychotic drug Risperdal, the Philadelphia Inquirer reports.
Federal and state investigators have been examining the company’s Risperdal marketing practices for almost a decade, according to the Inquirer. The $181 million agreement is separate from a continuing federal investigation that could lead to criminal charges against Johnson ...
continue reading...A unit of Johnson & Johnson has issued a recall for certain lots of bone putty, which is used to stop bone bleeding by creating a physical barrier along the edges of bones damaged by trauma or cut during a surgical procedure.
Reuters reports that Synthes issued the recall on July 5, citing the potential for the putty to catch fire if it came in contact with electrosurgical cautery systems during ...
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A cardiologist who conducted a study of St. Jude Medical defibrillator leads said surgeons should stop implanting them in patients until more research is done about safety concerns surrounding the devices.
The New York Times quotes Dr. Robert G. Hauser of Abbott Northwestern Hospital in Minneapolis as saying: “There is no need to use this lead until we have more confidence in its performance.”
The devices are wires that connect a patient’s ...
continue reading...According to the New York Times, Johnson & Johnson has pledged to remove a number of potentially harmful chemicals, including formaldehyde, from its line of consumer products by the end of 2015.
Although the company had already pledged to remove certain chemicals from its baby products by 2013, the new announcement extends the program to its adult products. Johnson & Johnson is the first major consumer products company to make such ...
continue reading...Johnson & Johnson has agreed to pay about $600,000 to resolve three cases in the first settlements of lawsuits related to the company’s all-metal hip implants, Bloomberg reports.
The report, which cites unnamed sources, says officials with Johnson & Johnson’s DePuy unit recently agreed to settle Nevada residents’ suits over the devices, which were recalled in 2010.
The hip implants in question ...
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