Johnson & Johnson, with a whopping market cap of over $400 billion, might seem like the epitome of a reliable healthcare brand. But it’s been slammed with scandals, controversies and lawsuits that have left the public questioning its credibility.
One of the biggest issues plaguing the company is its involvement in the opioid epidemic. In 2019, it was ordered to pay $572 million for marketing opioids irresponsibly, which contributed to the addiction crisis. Johnson & Johnson denies any wrongdoing and is fighting the verdict, but it’s a serious accusation that raises concerns about the company’s ethics.
The company’s medical devices haven’t been much better either. Faulty hip replacements and pelvic mesh implants have caused patients to suffer severe pain, organ damage and even require corrective surgeries. It’s not just a minor inconvenience, but a serious issue that has affected thousands of people.
Johnson & Johnson’s environmental and social impact is also a hot topic. The company has been accused of dumping toxic chemicals such as dioxins and PCBs in waterways and soil, which can lead to cancer and other illnesses. Additionally, the use of child labour in its supply chain has also come under scrutiny, and the company has been criticized for failing to ensure ethical labour standards are met.
Finally, the company has been found guilty of misleading marketing practices. Johnson & Johnson was fined $2.2 billion for promoting drugs for unapproved uses and providing kickbacks to doctors and pharmacists. It’s also been accused of using harmful chemicals in its baby products and making false claims about the safety and efficacy of its products.
In summary, Johnson & Johnson might be a heavyweight in the healthcare industry, but its past is far from perfect. From its involvement in the opioid epidemic to its dodgy medical devices, environmental and social impact, and questionable marketing tactics, the company has a lot of work to do to regain the public’s trust.
