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J&J Execs Reassure Shareholders On Quality Issues

Johnson & Johnson shareholders, upset over the health giant’s battered image amid unprecedented product recalls and ethical lapses, peppered its new CEO with questions and criticism during J&J’s annual meeting.

Others among the 1,800 shareholders attending raised concerns over serious side effects of some J&J prescription medicines.

Outgoing CEO Bill Weldon, who’s stepping down after a decade, and successor Alex Gorsky went to great lengths to reassure the audience that the company is resolving its quality problems and focused on helping patients.

Gorsky says J&J has implemented new quality procedures and is confident it’s resolving the problems that have led to about 30 recalls of consumer health products, hip replacements and prescription drugs.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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