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Johnson & Johnson Holds 2011 Annual Meeting of Shareholders
Date:4/28/2011

cNeil Consumer Healthcare business.  "I accept full accountability for these matters," he told shareholders, "and am committed to fixing the problems and ensuring that we come back stronger than ever."

Weldon outlined extensive changes "to restore McNeil Consumer Healthcare to the highest levels of quality and compliance, the levels that people expect of Johnson & Johnson companies and that we expect of ourselves."  He pointed to visible signs of progress, including:

  • Products that were made in Fort Washington are beginning to be sourced from other Johnson & Johnson manufacturing locations and the company expects to ramp up supply of many of these products in the second half of this year, with the remainder expected in 2012;  
  • New steel beams have been placed on the site of the old Fort Washington plant, foreshadowing investment of more than $100 million in one of the world's most sophisticated liquid medicine manufacturing facilities; and
  • McNeil committed to enhancing safety by adding a special dosage-limiting flow restrictor to infant and children's forms of TYLENOL® as it begins returning these medicines to the market.  The company has shared this innovative design publicly.  

Weldon told shareholders the company has reviewed all 120 of its internal manufacturing sites around the world to ensure the company did not have a systemic quality problem. "We were pleased to learn that we did not," he said.  Nonetheless, to provide even more assurance, he said the company has put in place a global model for quality and compliance to build a "quality safety net across all of Johnson & Johnson."  

Weldon added: "You would be proud, as I am, of the commitment of our people to rectifying these issues and bringing high-quality products back to our customers. I want to encourage you to keep your faith in this great company and the peo
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SOURCE Johnson & Johnson
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