Shares in Johnson & Johnson fell as much as 1.3 percent Tuesday after the company said it recalled about 4 million packages of Children’s Benadryl allergy tablets and around 800 000 bottles of junior-strength Motrin caplets due to manufacturing “insufficiencies.” Spokeswoman Bonnie Jacobs indicated that "when the manufacturing process was developed, it was not done as thoroughly as it should have been,” adding that the action “is not being taken on the basis of adverse events,” or safety issues. The drugmaker's McNeil unit withdrew more than 40 types of children’s medicines in April, reducing sales by about $600 million, while the US House Oversight and Government Reform Committee has been investigating the company's handling of the recall and a separate incident involving Motrin tablets.
Reference Articles
J&J announces wholesale, retail product recall - (ABC News)
J&J recalls children's Benadryl, Motrin over manufacturing `deficiencies' - (Bloomberg)
Johnson & Johnson shares decline on Motrin, Benadryl recalls - (Bloomberg)
Johnson & Johnson recalls more children's medicines - (Daily Finance)
J&J recalls more children's Benadryl and Motrin (free preview) - (The Wall Street Journal)
**Published in "First Word"
No comments:
Post a Comment