Johnson & Johnson to take $500-$600 million charge as Cordis drops Cypher heart stents

17 June 2011

US health care giant Johnson & Johnson (NYSE: JNJ), which has suffered a steady stream of bad news relating to product recalls, says that it expects to record an after-tax restructuring charge in the range of $500-$600 million in the second quarter of 2011 as a result of restructuring plans announced by its subsidiary, Cordis Corp. The restructuring charge will be treated as a special item.

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