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The Extremely Expensive Problems Facing Johnson & Johnson
If you think Alex Gorsky is the solution to the problems facing JNJ, you haven't kept up with the JNJ drama over the years. Stop in and get a clue...
Date Created: 2012, August 1
Keywords: jnj, johnson and johnson, johnson + johnson, J&J, stock alex gorsky, corruption
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If you think Alex Gorsky is the solution to the problems facing JNJ, you haven't kept up with the JNJ drama over the years.
90,000 failing hips
Over 1,000 and more to come for Pelvic Mesh, which is still being installed in people so even more lawsuits to come.
And we have to wonder what's coming in the pipeline?
After failure to perform routine maintenance and common sense preventive measures, meet FDA inspection requirements intended for our safety leading to chronic recalls, two plants under FDA supervision, one plant still closed down, lack of monitoring of their suppliers leading to an extreme shortage of a cancer drug, a stolen heart stent patent with litigation proving the patent was stolen and the subsequent loss of over 1,000 jobs when the stent manufacturing plant was forced to close, leads me to believe that if we wait, there will be sure to be more legal issues in the not-so-distant future.
If you think Alex Gorsky is the solution to the problems facing JNJ, you haven't kept up with the JNJ drama over the years. Alex Gorsky was head of Janssen Pharma during the Risperdal scandal - with ongoing legal proceedings. Alex Gorsky was head of medical devices during the choice to continue selling and surgically installing metal on metal hips with known health risks including metal poisoning and high failure rate requiring additional surgery. Alex Gorsky was also head of medical devices during the decision to continue selling, misleading, doctors and public regarding risks of pelvic mesh which also has known health risks with the worst being the high number of additional surgeries required to remove the decaying product. I dug up some past history stuff, but we'll stick to recent Alex Gorsky corruption connections.
Alex Gorsky may not have been involved in all the major scandals that have plagued JNJ over the last 20 years, but he certainly has been realllllllly close to every high-dollar scandal facing JNJ today. Considering the fact that the FEDS want to question Mr. Gorsky regarding his knowledge of the two major fiascos facing JNJ today: Risperdal and Pelvic Mesh, it tends to lead one to believe that, since he was directly in control of each, he may, just possibly, have been responsible for these very poor, and very costly, not to mention illegal and unethical, management decisions.
Who is truly going to bear the financial burden of the harms caused by these products, the legal fees to prosecute JNJ for breaking the laws and the JNJ defense lawyers? Hm. It used to be the consumers through increased product prices, higher health care costs and increased taxes to cover the increased government health care. However, millions of consumers can no longer afford even basic medical care. In addition, it is expected that medical care will be equal to half of the average paycheck by 2015. At some point, the shareholders will have to bear the brunt of the financial burden from the legal fees associated with criminal behavior as well as the medical costs from the harms caused by JNJ products. Shareholders are already feeling increased taxes and health care costs, and the loss of the money JNJ stole from the Medicaid program. I wonder what will happen when JNJ corruption finally starts eating into stockholder dividends and share prices?
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1. Emily Patterson (2013, June 7). Johnson & Johnson CEO Alex Gorsky and the $5+ Billion Risperdal Medicaid Scandal Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/alex_gorsky_risperdal.shtml
2. Emily Patterson (2012, April 16). Johnson & Johnson DePuy Global Recall of 93,000 Defective All-Metal Hips Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/recalled_hips.shtml
3. Emily Patterson (2012, May 3). Lawsuits Mounting for Harm by Johnson & Johnson Implanted Mesh Products Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/mesh.shtml
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