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Latest Business News

J&J Discloses Possible Improper Payments

Monday, February 12, 2007 11:57:48 PM

 Johnson & Johnson (J&J) corporate headquarters in New Brunswick, N.J. are shown in this 2002 file photo. Some J&J subsidiaries outside the U.S. may have made improper payments in connection with the sale of medical devices in two small-market countries, the company said Monday. (AP Photo/Daniel Hulshizer, FILE)NEW BRUNSWICK N.J. (AP) - Some Johnson & Johnson subsidiaries outside the U.S. may have made improper payments in connection with the sale of medical devices in two small-market countries, the company said Monday.

The New Brunswick-based health care giant said it was voluntarily disclosing the information to the U.S. Justice Department and the Securities and Exchange Commission.

J&J also said Michael J. Dormer, worldwide chairman of the company's Medical Devices and Diagnostics segment, retired from the company effective Monday.


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