In the latest of a long strong of product recalls, Johnson & Johnson is recalling and replacing more than 2 million meters that diabetics use to measure blood glucose levels, manufactured by the company’s LifeScan unit.
According to Reuters, the problem is a failure to operate properly at extremely high glucose levels.
The report says no patient injuries related to the malfunction have been reported in the United States. The company said ...
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In a piece for investing blog Seeking Alpha, contributor Sarah Maller discusses her reasons for giving up on health care giant Johnson & Johnson as a viable investment.
“Manufacturing problems and recalls are not just embarrassing,” she writes, “but they are a worrisome sign that management has taken its eye off the ball in many key respects.”
Maller specifically mentions a recall that Johnson & Johnson initiated for its LPS Diaphyseal Sleeve, ...
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Andrew Ekdahl, president of Johnson & Johnson’s DePuy Orthopaedics division, has testified that the company recalled its ASR hip implants because they weren’t meeting “clinical expectations,” and not because the company believed they had an underlying design defect.
But lawyers in a Chicago trial over injuries allegedly caused by the devices have produced a document that appears to contradict Ekdahl’s statement.
A Bloomberg story references a document from the Health Hazard/Risk Evaluation ...
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Consumer Reports describes new U.S. Food and Drug Administration rules for “metal-on-metal” hip implants, which feature both a ball and a socket coated in a combination of cobalt and chromium.
The new regulations will give manufacturers 90 days in which to file applications including the results of clinical trials and other “valid scientific evidence” showing that the devices are safe and effective. Manufacturers who fail to produce this evidence will be ...
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According to a story on the Huffington Post, Johnson & Johnson has lowered its planned bonuses for the company’s top executives by 10 percent.
A statement from the company acknowledges “disappointments” from 2012, and resultant damage to the company’s public reputation.
Johnson & Johnson’s annual proxy statement says, in part: “We worked to address several reputational challenges and continue to strive toward regaining the reputational standings that we expect of ourselves and ...
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Health care giant Johnson & Johnson’s legal troubles are apparently giving investor Warren Buffett pause, according to a blog item for the Philadelphia Inquirer.
Buffett recently released his annual letter to shareholders of Berkshire Hathaway, and it shows that Berkshire had dropped its holdings of Johnson & Johnson stock to below $1 billion for the first time since the end of 2005.
The blog item notes that Johnson & Johnson has gone ...
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