J&J CFO Says Private Labels Took Over-Counter Market Share
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Johnson & Johnson has lost “significant” market share in over-the-counter drugs to privately owned brands after recalling dozens of products in the past two years, Chief Financial Officer Dominic Caruso said.
The drugmaker plans to use coupons and product innovations to promote the business next year, Caruso today said in a conference call with analysts. J&J, based in New Brunswick, New Jersey, is optimistic about regaining lost territory, since consumer surveys show its children’s medicines still have mothers’ loyalty, he said.