Business

Johnson Johnson is mired in a controversy surrounding safety of its baby talcum powderNew Delhi: Johnson Johnson's sales in India dipped 3 per cent in year to March 2018, a regulatory filing showed on Thursday, as US drug maker grappled with country's stringent medical device pricing policies.The company, currently mired in a controversy surrounding safety of its baby talcum powder, reported overall sales of Rs 5,828 crore ($829 million) in country for year, its filing with Ministry of Corporate Affairs shows.But its after-tax profit for period rose 18 per cent to $98 million on other income, including foreign exchange gains.JJ's medical device sales in country have been hit following government's move in 2017 to cap prices of devices such as orthopaedic knee implants to help poor patients.The restrictions were part of a broader push by government to end what it called "illegal profiteering" by companies.The company has recently been in news after an investigation by news agency Reuters found JJ knew for decades that cancer-causing asbestos lurked in its baby powder.The report prompted drug inspectors across country to collect talc samples from JJ facilities for testing.JJ has said Reuters article was "one-sided, false and inflammatory", adding that its Baby Powder was "safe and asbestos free".JJ's Baby Powder is one of most recognised foreign brands in India.

The company leads sales in Indian baby and child toiletries market, which Euromonitor International estimates was worth $178 million last year.JJ's consumer segment in India, which includes baby care products such as soap and talc, recorded sales of Rs 3,100 crore in year to March 2018, marginally lower than previous year, company's India filing showed.Sales in its medical segment, which includes its orthopaedic products, fell 7 per cent to Rs 1,960 crore.($1 = Rs 70.4910)





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