Johnson & Johnson reports first quarter profit slump in wake of recalls

Johnson & Johnson has reported a 23 percent decline in profit following a series of recalls. Revenue has rebounded and the stocks are up, but profits have taken a hit.

The Associated Press reports J&J has doubled its estimate recall-related costs and consumer product sales dipped 2.2 percent.

On the upshot, drug revenue is up 7.5 percent worldwide, and J&J raised its profit forecast for the year to $5 per share.

Here’s a list of J&J recalls.