Related Stories
Johnson & Johnson CEO: 'We made a mistake'
Key Excerpts from Article on Website of CNN Money
Posted: October 24th, 2010
http://money.cnn.com/2010/09/30/news/companies/hearing_johns...
Johnson & Johnson CEO William Weldon delivered both a mea culpa and clear admission to [the Committee on Oversight and Government Reform] that his company let the public down through numerous recent drug recalls. He also admitted that the company secretly bought up defective drugs without informing regulators and consumers of its actions. The committee has been investigating circumstances that have led to more than half a dozen recalls this year of non-prescription cold and pain drugs such as Tylenol, Benadryl and Motrin made by Johnson & Johnson's McNeil Consumer Healthcare unit. Weldon's [pledge] to never let this happen again was met with some skepticism. [Committee Chairman Edolphus Towns (D-NY)] said [the] testimony indicates some very serious problems in "the way Johnson & Johnson viewed its responsibility to the public and its day-to-day relationship with the FDA." There is often a thin line between "working cooperatively" and having a "cozy relationship," he said. "The documents we have seen in this case indicate this line may have been crossed early and often."
Note: For lots more from reliable sources on corporate and government corruption, click here and here.
Related Stories
Latest News
Key News Articles from Years Past
