News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Johnson & Johnson (JNJ) Agrees to Beef Up Internal Oversight


7/12/2012 8:34:09 AM

After tussling with angry shareholders for nearly two years over a raft of alleged managerial lapses, Johnson & Johnson has reached a settlement by agreeing to create a board-level committee to ensure that its numerous subsidiaries comply with FDA regulations. And the health care giant will also adopt companywide risk-management policies in hopes of catching problems before they mushroom into the sort of crises that have plagued J&J for the past few years. The settlement, which must still be approved by a federal court judge, is the result of a so-called derivative shareholder lawsuit in which a group of J&J shareholders charged that the health care giant’s board of directors breached their fiduciary duty, despite a series of red flags in the form of FDA warning letters; government subpoenas; a criminal plea to kickback charges; whistleblower lawsuits; product recalls and off-label marketing.

Read at Pharmalot
Read at News Release

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES