Furthering its recall woes, Johnson & Johnson ($JNJ) is removing about 400 of its Simponi injection pens from the U.S. and German markets due to a manufacturing flaw that causes the pens to administer an incorrect dosage of the arthritis drug.
The Simponi recall marks the fourth medical device recall from J&J in recent weeks. Previously, the company recalled its schizophrenia treatment Invega Sustenna for cracked syringes, hernia device Secure Strap for packaging issues and Dermabond wound care product due to discolored vials. After over 40 recalls in the past year of devices and other products, J&J has taken a $900 million hit to its sales, and the end isn't in sight.
"I don't think you can ever say you've seen the last of recalls," Bill Weldon, J&J's CEO, told CNBC. "What we feel really good about is that we're coming into 2011 in much better shape than we came out of 2010."
- read the Bloomberg coverage
- see the Wall Street Journal news
- and here's the Philadelphia Business Journal article