Johnson & Johnson children's drugs returning next week

By Parija Kavilanz, senior writer


NEW YORK (CNNMoney.com) -- After an almost five-month absence from stores, Johnson & Johnson will start shipping some of its recalled over-the-counter children's drugs to retailers next week, CEO William Weldon said in prepared remarks submitted to lawmakers Wednesday.

Weldon said that there would only be a limited amount of the medicine available and Johnson & Johnson declined to specify exactly which of the recalled products would arrive in stores next week. The products will be produced by J&J's Canadian affiliate.

A total of 4 million bottles will eventually hit the market by year end.

On Thursday, lawmakers will grill Weldon about the circumstances that triggered more than half a dozen recalls of its popular pain and cold drugs over the past year.

Weldon did not appear at the fist Congressional hearing held in May.

Johnson & Johnson's (JNJ, Fortune 500) McNeil Consumer Healthcare unit, recalled more than 135 million units of children's Tylenol, Benadryl and Motrin medicines in April for possible bacterial contamination and the presence of small metal parts.

In May, McNeil shuttered the U.S. plant that manufactured children's drugs and said it did not expect products made at the Fort Washington, PA plant to be back in stores before the end of the year.

Lawmakers are expected to drill deeper into the company's actions surrounding the recall of the popular non-prescription pain and cold drugs and to question Weldon about what he knew about the secret recall of more than 80,000 Motrin tablets in June 2009 dubbed the "phantom" recall.

Regarding the April recall of McNeil's pediatric drugs, Weldon said:

"I accept full accountability for the problems at McNeil, and I will take full accountability for fixing them."

"We will do whatever is necessary to address the quality concerns at McNeil, bring our important pediatric products back to the market responsibly, and restore the public's confidence in our products," he said.

Weldon also addressed the the company handled the Motrin "phantom" recall in his remarks.

"McNeil informed FDA officials about McNeil's plans."

"I believe that McNeil acted with good intentions. But this episode was not a model for how I would like to see Johnson & Johnson companies approach problems with defective product when they arise."

J&J and the FDA are at odds about the manner in which the company reported its intention to remove defective Motrin products from stores last year. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,805.41 127.51 0.76%
Nasdaq 4,483.72 30.93 0.69%
S&P 500 1,964.58 13.76 0.71%
Treasuries 2.27 -0.00 -0.09%
Data as of 5:35pm ET
Company Price Change % Change
Ford Motor Co 13.78 -0.62 -4.31%
Microsoft Corp 46.13 1.11 2.47%
Apple Inc 105.22 0.39 0.37%
Bank of America Corp... 16.72 0.12 0.72%
Yahoo! Inc 43.50 0.90 2.11%
Data as of 4:03pm ET

Sections

Drug makers, airlines and entertainment companies are among the stocks that some investors say could be impacted by the worst Ebola outbreak in history. More

With oil and gas prices falling, some in Washington are questioning whether it makes sense to hold 106 days worth of supply in storage. More

Shares of Facebook recently topped $80. They've more than quadrupled from their post-IPO lows of two years ago. Can Mark Zuckerberg keep the momentum in mobile going? More

Using technology developed for the military and implemented in Iraq, schools have installed alarm systems that detect gunfire. More

Big purchases often come with big expectations. So it's no wonder that in a recent survey 80% of homebuyers said they regretted at least one thing about their home. Here are ways to improve those odds. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.