WASHINGTON (AP) â¿¿ Health products giant Johnson & Johnson spent $1.3 million in the second quarter lobbying on legislation concerning its medicines and consumer health products, many of which have been the subject of repeated recalls over the past two years.
That amount was up slightly from the $1.2 million the New Brunswick, N.J., company spent a year earlier, but down from the $1.7 million it spent in the first quarter.
The maker of Tylenol, Motrin and hip replacements â¿¿ products among the many J&J has recalled around the world â¿¿ lobbied on issues relating to recalls of nonprescription medicines made by its McNeil Consumer Healthcare unit and ingredients in cough and cold medicines that can be abused or used to make the illegal drug methamphetamine.
Since September 2009, J&J has announced an astounding series of more than two dozen recalls of prescription and nonprescription drugs and medical devices. Reasons range from nauseating odors and shards of metal or glass in liquid medicines to the wrong level of active ingredient in some over-the-counter medicines and faulty hip replacements that cause severe pain and require replacement.The company lobbied on the America Invents Act, the first significant overhaul of patent law since 1952. The legislation, signed into law by President Obama on Sept. 16, is meant to stimulate job creation by streamlining the patent process, reducing costly legal battles and addressing a backlog of about 1.2 million pending patent approvals. J&J also lobbied on issues related to Food and Drug Administration fees for reviewing and deciding whether to approve new medicines and medical devices, as well as on ensuring the quality of medication ingredients, on rebates paid for drugs purchased through the Medicare program, and for repeal of an excise tax on medical devices. The company, which makes many popular baby and skin care products, lobbied on regulation of cosmetic products. It also lobbied on tax reform and on a free-trade agreement with Korea.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV