[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 13 February 2007, 06:28 GMT
J&J manager quits in fraud probe
Tablets
Johnson & Johnson is a healthcare giant
A Johnson & Johnson executive has stepped down after the healthcare giant said some of its foreign units may have made improper payments.

The US firm said the payments, related to the sale of medical devices in two unspecified countries, may break the US Foreign Corrupt Practices Act.

It said it was would cooperate with the US Department of Justice and US Securities & Exchange Commission (SEC).

Outgoing Michael Dormer said he bore final responsibility for the units.

'Being taken seriously'

Morgan Stanley analyst Glenn Reicin said the firm was most likely attempting to contain the damage.

"We suspect that J&J management probably had to find a way to make it clear to authorities that this matter is being taken seriously, potentially pre-empting federal enforcement action," he said.

Mr Dormer, who was worldwide chairman of the company's medical devices & diagnostic unit, is being replaced by Nicholas Valeriani.

Some of Johnson & Johnson's best known brands include Listerine mouthwash and the Sudafed allergy drug.


SEE ALSO
J&J buys up Pfizer unit for $16bn
26 Jun 06 |  Business
Glaxo 'mulls bid for Pfizer unit'
02 Jun 06 |  Business
Pfizer wins Chinese Viagra ruling
05 Jun 06 |  Business
Reckitt Benckiser buys Boots unit
07 Oct 05 |  Business
Guidant takeover battle hots up
13 Jan 06 |  Business
Profit boost for French drugmaker
05 May 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific