Johnson & Johnson 1Q 2009 sales are down as smokers become aware of the role J & J played in marginalizing themJohnson and Johnson's sales were down by 7.2 per cent year-on-year in the first quarter of 2009, while its net earnings fell by 2.5 per cent, the company has announced.
That online story can be found here.
This loss in revenue comes as no surprise to CTA readers. Approximately 50 - 60 million Americans smoke, and as those smokers become educated about the role that J & J and their political partner RWJF played in implementing smoking bans, they are less than enthusiastic about doing business with this rent seeking pharmaceutical company.
J & J manufactures or owns Nicoderm, Nicoderm CQ, Nicorette, Nicotrol,Commit, etc. as such, it becomes increasingly apparent that partner, RWJF's interest in funding smoking ban efforts is not so much based upon health concerns......but rather pharmaceutical nicotine profits. And as RWJF is one of the single largest shareholders of J & J stock their motive for lobbying in favor of those bans becomes very dubious.