J&J Plans To Upgrade Recalled OTCs for Relaunch
This article was originally published in The Tan Sheet
Johnson & Johnson plans to return recalled OTC drugs to the market with innovations designed to strengthen consumer trust, VP of Finance and CFO Dominic Caruso said during a presentation at the Deutsche Bank Securities Health Care Conference.
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Over-the-counter drug firms will make single-ingredient liquid acetaminophen pediatric products only in one standard concentration to help prevent dosing errors, their trade association said May 4.
FDA will wield tight oversight of Johnson & Johnson subsidiary McNeil Consumer Healthcare's OTC manufacturing operations under a consent decree filed after the firm's quality-control changes failed to satisfy the agency.
Recalled OTC drugs took a $900 million bite out of Johnson & Johnson's fiscal 2010 sales, including $300 million in the fourth quarter, contributing to what the company and analysts labeled disappointing earnings.