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26 Jan 2011

J&J CEO: More McNeil Recalls Possible

Johnson & Johnson expects 'significant costs' in 2011 related to product recall and quality issues.

Johnson & Johnson has reviewed operations for every McNeil product manufactured in-house, about 80 percent of the portfolio, says CEO Bill Weldon. The focus shifts now to the 20 percent manufactured by contractors.


The internal review completed, most of the recall action is in the rear-view mirror. "But there could be a little ahead of us," he says in a briefing to investor today. "We have to see if there's anything to be addressed externally."


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