While Johnson & Johnson touts another strong quarter of device and diagnostics sales, subtracting the effects of its blockbuster deal for Synthes, the company charted almost no med tech improvement over the past year.
J&J expects its McNeil Consumer Healthcare division to be set free of a two-year-old FDA consent decree by year's end. That order has kept its main OTC plant in Fort Washington, PA, closed and placed strict oversight on two others.
Johnson & Johnson says that by year's end it can start ticking off the punch list with the FDA at its Fort Washington, PA, manufacturing site, setting the stage for shedding a federal consent decree.
Another Big Pharma CEO is having a pep talk with employees about manufacturing lapses and the need to reflect on quality.
In its first-quarter earnings confab, J&J made good on CEO Alex Gorsky's pledge to get the company's troubled OTC manufacturing plants in shape and return the consumer health business to a growing top line.
On FierceMedicalDevices ' list of 2012's 10 highest-paid med tech CEOs, half are serving in their first full year on the job or are new in the position as of this year. Read the full report >>
The question isn't why Johnson & Johnson CEO Alex Gorsky took a 10% hit to his incentive pay. It's why Chairman William Weldon didn't suffer a bigger cut in his pay.
A big development in the diagnostics industry emerged in Johnson & Johnson's heavy stream of earnings news today. The healthcare giant ($JNJ) is mulling options for its Ortho Clinical Diagnostics business, as CEO Alex Gorsky moves to emphasize the company's best prospects for growth.
A consent decree and a $100 million investment to upgrade its key OTC plant have not led Johnson & Johnson to give up on its Fort Washington, PA, operations, CEO Alex Gorsky told investors today.
Alex Gorsky now has it all. The CEO of Johnson & Johnson today was named chairman of the drug and consumer products company, replacing Bill Weldon, who is retiring from J&J after four decades.