Fox Business - The Power to Prosper
Search Site

Tylenol Recall

J&J to Leave Heart Stent Business

Johnson & Johnson will stop selling drug-coated heart stents, a former profit driver for the diversified healthcare company that has stumbled due to safety concerns and fierce competition from rival products.J&J said Wednesday that it would end development of its Nevo heart stent and cease manufacturing its Cypher stent, widening the field for rivals like Abbott Laboratories Inc and Boston Scientific Corp .The company's Cordis unit will stop selling the drug-coated stents -- tiny mesh tubes that prop open heart arteries -- by year's end. It will continue to sell its far less lucrative bare metal stents.``The stents were kind of an albatross,'' said Gabelli & Co analyst Jeff Jonas, adding that ``the remaining cardiovascular business is attractive.''J&J expects to take a second-quarter charge of $500 million to $600 million related to restructuring plans for Cordis. It will close manufacturing facilities in San German, Puerto Rico, and Cashel, Ireland, and expects to cut up to 1,000 jobs...

Read More

  1. J&J Recalls More Over-The-Counter Medicines For Quality

    Johnson & Johnson (JNJ) recalled nearly 47 million units of over-the-counter medicines Friday, the latest in a string of quality-related product recalls.J&J said the...

Freebase CC-BY
Source: Tylenol Recall on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL