June 4, 2016 |
Johnson & Johnson said Thursday its consumer products division will buy beauty products company Vogue International for $3.3 billion in cash. Vogue, in Clearwater, Fla., sells the OGX collection of shampoos, body care and bath products, and hair styling items under the FX brand, and the Proganix and Maui Moisture hair care products lines sold in the United States and 38 countries. The deal is expected to close in the third quarter. Johnson & Johnson Consumer Inc. is based in Skillman, N.J. J&J owns 250 companies worldwide, including McNeil Consumer Healthcare in Fort Washington and medical-device maker Synthes in West Chester.
June 3, 2016 |
A Johnson & Johnson diagnostic test that can detect the Ebola virus has been authorized by the U.S. Food and Drug Administration for emergency use when there is a suspected outbreak. The test, developed by J&J subsidiary Janssen Pharmaceutica and partner Biocartis NV in Belgium, detects the Ebola strain that caused more than 11,000 deaths in West Africa in 2014. Using only a few drops of blood, the test can distinguish Ebola from other fevers, such as malaria, in 100 minutes, said Janssen medical director Theresa Pattery.
January 21, 2016 |
Johnson & Johnson plans to cut about 3,000 employees, or 1 in 20, from its global medical-device workforce in hopes of saving up to $1 billion in yearly costs. The drug and medical-supply company will use that money to invest in "new growth opportunities," J&J said Tuesday. In a statement to employees, J&J said the cuts would "accelerate its pace of innovation. " The company expects a pretax restructuring charge of up to $2.4 billion by 2018, including $600 million later this year.
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.
June 18, 2014 |
Medical device maker Medtronic said it would buy rival Covidien for close to $43 billion, which will help Medtronic challenge competitors such as New Brunswick, N.J.-based Johnson & Johnson and avoid paying some U.S. corporate taxes. Medtronic is headquartered in Minneapolis. Covidien's leadership operates from a Boston suburb, but it is officially registered in Ireland, which has much lower corporate taxes than the United States. Medtronic will keep operational control in Minneapolis, but officially register in Ireland and have relatively few employees there.
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.