February 26, 2015 |
A Philadelphia jury said Tuesday that drugmaker Johnson & Johnson should pay $2.5 million to a 20-year-old autistic man from Alabama - who developed size 46 DD breasts as a young teenager - because the company failed to adequately warn of that potential side effect from his use of the antipsychotic drug Risperdal. This was the first case related to the condition called gynecomastia that went to a jury, but thousands more lawsuits are lined up in Philadelphia, California, Missouri, and other locations.
January 22, 2015 |
Johnson & Johnson has been a long-term moneymaker, and it said Tuesday that its full-year profit for 2014 rose 18 percent, but the last few months were less profitable for the health-care giant. And it forecast declining profits in the near term because of price pressure on big-ticket drugs, stretched consumers, and tumult in world currency markets. Though consumer products are the smallest of its three divisions, the tumult in Fort Washington, site of the headquarters of J&J's McNeil Consumer Healthcare unit, might finally be nearing a regulatory end. But then, previous target dates have come and gone.
October 22, 2013 |
BACK IN 1982, the nation was terrorized by the Tylenol poison scare. Although the fatal poisonings of seven people, including a 12-year-old girl, from taking cyanide-laced Extra-Strength Tylenol capsules were confined to the Chicago area, repercussions were felt everywhere. Johnson & Johnson, parent company of McNeil Consumer Healthcare, the drug's manufacturer, pulled 32 million packages of Tylenol off the shelves of stores throughout the nation, taking a huge nose-dive in profits as a result.
March 12, 2013
New Jersey employers who hire and train former pharmaceutical workers can receive training grants of up to $14,000 per worker over six months, the New Jersey Department of Labor and Workforce Development announced Monday. Employers from all industries can participate, but the program will only cover former employees from approved locations of Bristol-Myers Squibb, Hoffman-La Roche, Johnson & Johnson, Merck & Co., and Pfizer. The state received the federal grant that underwrites this program in October 2010.
March 6, 2013 |
Warren Buffett's annual shareholder letter is much followed by investors, and the latest version does not include Johnson & Johnson for the first time since 2005. The letter, released over the weekend, lists the companies in which the billionaire or Berkshire Hathaway, of which he is chairman, hold at least $1 billion in stock. With product recalls, patient lawsuits, and a federal investigation pending, Buffett was critical of J&J in February 2012 when he discussed his annual letter, telling CNBC that the health-care giant "obviously messed up in a lot of ways in the last few years.
February 15, 2013 |
BOSTON - Health care company Johnson & Johnson has been told to pay a teenager and her parents $63 million after she suffered a life-threatening drug reaction and lost most of her skin when she took a children's pain reliever nearly a decade ago. Johnson & Johnson and its Fort Washington-based McNeil-PPC Inc. subsidiary should pay Samantha Reckis and her parents a total of $109 million, including interest, a Plymouth Superior Court jury decided on...
January 24, 2013 |
NEW YORK - Pharmaceutical companies are pleased that health-care reform means more patients have insurance and will be encouraged to take their medicine to avoid costly hospitalizations. But, as Johnson & Johnson chief executive officer Alex Gorsky said Tuesday, drugmakers want private insurers or government programs such as Medicare and Medicaid to pay them for those drugs at a prices closer to their choosing. "Be aware," Gorsky said, that cost-containment efforts must "ensure we continue to reward innovation," or risk not having new drugs to treat health problems.
October 30, 2012
Securities trades recently reported to the Securities and Exchange Commission by officers, directors and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. Ace Ltd. John J. Lupica , officer, sold 3,466 shares at $82.01 Oct. 18 to Oct. 19, and now directly holds 112,347 shares. Air Products and Chemicals Inc. Lawrence S. Smith , director, bought 5,000 shares at $77.36 on Oct. 23, and now directly holds 9,850 shares.
October 19, 2012 |
THE DAY they opened The Laundry Cafe in Olney, owners Tyrone Akins and Brian Holland were approached by an older woman with an unexpected request. She had inspected the Laundromat's 150 high-end washers and dryers, granite-topped tables and coin-operated massage chairs. She had marveled at the low-fee computer stations, Starbucks coffee kiosk, digital jukebox, video games, free Wi-fi and flat-screen TVs. She made note of The Laundry Cafe's complimentary curbside assistance, first-load-free dryer service and bright community room where classes would be offered, free, on topics like how to start your own business.
October 18, 2012 |
Johnson & Johnson's third-quarter overall sales grew 6.5 percent and profits dropped 7.3 percent compared with the same period in 2011, as two of the health care giant's Philadelphia-area businesses were key elements in the good-and-bad financial picture. J&J is famous for Tylenol, Band-Aid bandages and shampoos, but this consumer segment is the last of the three divisions in sales, in part because the McNeil Consumer Healthcare facility in Fort Washington has been shut down since 2010, and the entire consumer unit is operating under legal restrictions.