McNeil Consumer Healthcare Product Supply Update - Fort Washington, PA
FORT WASHINGTON, Pa., June 24 McNeil Consumer Healthcare, division of McNeil-PPC, Inc., a Johnson & Johnson company, today announced that it does not anticipate having sources of supply before the end of 2010 for most of the products that were produced at its Fort Washington, Pennsylvania manufacturing facility. Operations at the Fort Washington plant were suspended in connection with the recent recall of infants' and children's liquid over-the-counter (OTC) products manufactured there. The suspension of manufacturing also impacted adult OTC products manufactured at that facility. The majority of McNeil's U.S. OTC business is not impacted by the ongoing suspension of manufacturing at the Fort Washington plant.
As previously announced, the company is conducting a comprehensive quality assessment across its manufacturing operations, and has identified corrective actions that will be implemented before manufacturing resumes at the Fort Washington plant. McNeil has not yet finalized plans for resumption of production at the facility. The average annual sales of the products manufactured at this facility over the last three years were approximately $650 million.
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from McNeil's or Johnson & Johnson's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2010. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither McNeil nor Johnson & Johnson undertakes to update any forward-looking statements as a result of new information or future events or developments.)
MEDIA INQUIRIES: INVESTOR INQUIRIES Bonnie Jacobs Louise Mehrotra Stan Panasewicz 215-273-8994 (office) 732-524-6491 732-524-2524 856-912-9965 (mobile)
SOURCE McNeil Consumer Healthcare
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