April 26, 2013
In the Region J&J taken to task by shareholders Several Johnson & Johnson shareholders took the health-care giant to task during its annual meeting Thursday, citing repeated product recalls, ethical lapses, and excessive executive pay. CEO Alex Gorsky took it in stride, promising improvements and saying J&J was making progress in returning a "reliable supply" of products from its Fort Washington-based McNeil Consumer Healthcare...
April 18, 2013 |
Though its Fort Washington plant is still being repaired, and overall profit fell 10.6 percent to $3.5 billion in the first quarter of 2013, Johnson & Johnson said Tuesday that it has put more Tylenol and Motrin on store shelves in the United States through its McNeil Consumer Healthcare unit. "We are pleased with results in our consumer division, with over-the-counter sales in the U.S. up 14 percent," J&J chief financial officer Dominic Caruso said in a conference call with stock market analysts.
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 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.
August 1, 2012 |
Like millions of older Americans, especially women, Lois Eskind suffered from osteoporosis, which can cause vertebrae to crumble and result in terrible back pain. Unlike most, Eskind died on the operating table from a heart attack in 2003 minutes after a surgeon injected into her vertebrae a bone cement manufactured, illegally promoted, and tested on unknowing patients by medical device-maker Synthes Inc. Synthes, which was purchased by Johnson & Johnson in June for $19.7 billion, and its Norian subsidiary pleaded guilty in 2010 to criminal charges and paid $23.5 million in penalties.
July 25, 2012 |
Generic competition - a billion-dollar problem for brand-name drug companies since the 1980s - is making inroads in the orthopedic-medical-devices industry. Last week, Cardinal Health Inc., one of the three biggest device wholesalers, said it was increasing its offering of lower-cost products for broken bones. This nascent trend, borne of increasing pressure to control health-care costs, represents a direct threat to brand-name device-makers, such as West Chester-based Synthes, which was bought in June by Johnson & Johnson for $19.7 billion.
June 14, 2012 |
Johnson & Johnson said Tuesday evening that it plans to complete the largest acquisition in the company's 126-year history on Thursday, taking over medical device maker Synthes Inc., for about $19.7 billion in cash and stock. J&J is based in New Brunswick, N.J., and has operations around the globe, including in the Philadelphia region. Synthes has headquarters in Switzerland and in West Chester. The previously announced tentative price of $21.3 billion was subject to currency and stock prices at the time of closing.
April 4, 2012 |
Health-care giant Johnson & Johnson said Tuesday that it plans to sell the trauma segment of its medical-device division for $280 million to Biomet Inc. in hopes of satisfying European Union antitrust concerns about J&J's acquisition of device-maker Synthes Inc. J&J is planning to integrate Synthes and the other pieces of DePuy Orthopaedics. "DePuy Orthopaedics Inc. has received a binding offer from Biomet, a leading, diversified orthopedic company, by which Biomet will acquire the DePuy Orthopaedics' worldwide trauma business," J&J spokesman Bill Price said by e-mail.
March 23, 2012 |
After nearly 20 years away from the music business, British synth-pop icon Thomas Dolby launched his return last year with a passion - or rather, several passions. First there was a transmedia game, The Floating City, which was "set against a dystopian vision of the 1940s that could have perhaps existed if WWII had turned out a lot differently," he explains. Participants from around the world took part in the three-month long cyber-game, which wound down shortly before the release of Dolby's corresponding album, A Map of the Floating City.