Johnson & Johnson (NYSE:JNJ) is finally putting out new Tylenol Cold & Flu Severe caplets into retail outlets. The move comes after several costly recalls last year which put the healthcare giant in a tailspin.
“The problems and subsequent recalls cost J&J $900 million in sales in 2010 and, an analyst estimates, another $1 billion this year. Most Tylenol products are still off the market, but some will return early next year,” the WSJ reports. J&J’s blunder has been a benefit to Advil manufacturer Pfizer (NYSE:PFE), Bayer (BAYRY), and Excedrin manufacturer Novartis (NYSE:NVS).
Johnson & Johnson’s (NYSE:JNJ) stock is down 1.43% to $62.24 on the news. Shares are up 0.71% year to date. The stock has traded in a 52-week range between $57.50 and $68.05.