Sales down but first quarter profit up at Johnson & Johnson
Good news and bad for Johnson & Johnson, whose first quarter financial performance figures have been released.Profit for the quarter is up 12 percent from this time last year, but sales are down 0.2 percent.
The Philadelphia Business Journal reports J&J attributes the sales problem in part to issues at its McNeil facility in Fort Washington, Pa.
Operations have been suspended there following a series of recalls. And the Inquirer reports it’s taking longer than planned to get the plant back up and running. McNeil may not produce over-the-counter medicines again until the end of 2013.
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