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Johnson & Johnson : FDA : J&J Unit Recalls Potentially Flammable Bone Putty

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08/22/2012 | 12:13am CET
   By Ben Fox Rubin 

The Food and Drug Administration said Johnson & Johnson (JNJ) unit Synthes last month initiated a recall on certain lots of bone putty, saying the medical product could catch fire during surgery.

The FDA gave the recall a Class I designation, its most serious type of recall.

The regulator said Synthes in early July issued a medical device recall letter, asking medical facilities to examine their inventories and immediately stop using specific lots of the putty. The product, called a hemostatic bone putty, is used to stop bone bleeding by creating a physical barrier along the edges of bones that have been damaged by trauma or cut during surgery.

The FDA said the putty could ignite under some conditions if contacted with certain surgical equipment.

The lots recalled were manufactured between July 6, 2011, and Dec. 14, 2011, and were distributed from Dec. 22, 2011, to June 25, 2012.

J&J in June completed its $19.7 billion purchase of medical-device maker Synthes. The health-care giant has worked to tackle a range of problem products, such as the bottles of children's Tylenol and other popular over-the-counter medicines, as well as some contact lenses and certain hip implants, that the company recalled due to manufacturing problems.

The company's shares closed Tuesday at $67.78 and were up 15 cents after hours. The stock is up 3.4% so far this year.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Sales 2016 72 041 M
EBIT 2016 21 881 M
Net income 2016 16 368 M
Finance 2016 17 252 M
Yield 2016 2,74%
P/E ratio 2016 19,41
P/E ratio 2017 17,13
EV / Sales 2016 4,09x
EV / Sales 2017 3,83x
Capitalization 311 773 M
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Number of Analysts 23
Average target price 125 $
Spread / Average Target 9,2%
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Alex Gorsky Chairman & Chief Executive Officer
Dominic J. Caruso Chief Financial Officer & Vice President
Paulus Stoffels Chief Scientific Officer & Executive VP
Charles O. Prince Independent Director
William David Perez Independent Director
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