During a conference call on first-quarter earnings, Johnson & Johnson Chief Financial Officer Dominic Caruso discussed another unexpected delay and higher costs in getting Tylenol and other nonprescription drugs back into stores. The company has recalled two dozen consumer products since 2009 due to manufacturing quality problems and is rebuilding one of the factories where many were made, but says half the products won't return until 2013.
QUESTION: What are your expectations for regaining market share from other brands that consumers have been buying?
RESPONSE (J&J CFO Caruso): We still feel confident about our ability to recapture share. We're obviously disappointed that it's taking us longer than anticipated to get back into the market. (Our research shows) our brands still have two to three times the consumer confidence of brands in the stores.