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Johnson & Johnson’s revenue has slumped for a second straight year, prompting its chief executive to make an extraordinary pitch to soothe investors and defend the company’s handling of 17 costly recalls.
The health care giant, hammered by the weak global economy, growing pricing pressures and recalls that have kept many popular nonprescription medicines off store shelves, reported Tuesday a 12 percent profit decline and a 5.5 percent drop in sales for the fourth quarter. Get the full story »
Johnson & Johnson issued a recall of its Softchews Rolaids antacids Thursday after wood and metal bits were discovered in the tablets.
J&J, which recalled some Rolaids products in November, said it was voluntarily recalling all lots of the Softchews products after potentially uncovering problems with a third-party manufacturer.
The recall is the latest in a string of pulled products for J&J’s consumers unit that has drawn attention from U.S. authorities and Congress, hurt sales for its consumer products parent company and tarnished J&J’s reputation. Get the full story »
