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

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08/22/2012 | 12:13am CEST
   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 [email protected]

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

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Financials ($)
Sales 2017 75 643 M
EBIT 2017 23 480 M
Net income 2017 17 895 M
Debt 2017 8 113 M
Yield 2017 2,65%
P/E ratio 2017 19,36
P/E ratio 2018 17,39
EV / Sales 2017 4,63x
EV / Sales 2018 4,40x
Capitalization 341 901 M
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Johnson & Johnson Technical Analysis Chart | JNJ | US4781601046 | 4-Traders
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Number of Analysts 21
Average target price 130 $
Spread / Average Target 2,6%
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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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