J&J’s Caruso Pitches OTC Comeback To Analysts
This article was originally published in The Tan Sheet
Executive Summary
Johnson & Johnson will not “shortchange” its commitment to returning its recalled consumer brands to the marketplace, Chief Financial Officer Dominic Caruso says.
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J&J Extends Delay In Returning Some OTCs To Market
CFO Caruso says operating under a consent decree with “a third party in the manufacturing facilities with us” makes it “very difficult for us to predict exactly when products will return.” Some products will not return to stores until 2013, significantly later than the original goal to relaunch all recalled liquid OTCs before 2012.
J&J Extends Delay In Returning Some OTCs To Market
CFO Caruso says operating under a consent decree with “a third party in the manufacturing facilities with us” makes it “very difficult for us to predict exactly when products will return.” Some products will not return to stores until 2013, significantly later than the original goal to relaunch all recalled liquid OTCs before 2012.
J&J Brand Revival Plan Relies On Marketing, Delivery Innovation
Johnson & Johnson expects innovation and marketing to restore consumer confidence in its OTC brands and drive a market-share rebound even as its U.S. sales continue to fall, dropping nearly 25% in its latest quarter.