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.

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