William C. Weldon
Chairman, Board of Directors,
and Chief Executive Officer
To Our Shareholders
2010 will be remembered as a year in which our company was severely tested on numerous fronts. Yet our people continued the hallmark work of Johnson & Johnson: finding new ways to care for the health and well-being of people around the world.
There were challenges we fully expected, particularly those related to the continuing global economic downturn and loss of patent exclusivity on some of our major pharmaceutical products. And there was a challenge we did not expect: the painful and disappointing experience of the McNeil Consumer Healthcare product recalls.
Despite the trying moments of 2010, our people introduced new products, advanced our pipelines and expanded businesses in emerging markets. We remain steeped in our tradition of caring for others, driven by values deeply rooted in Our Credo. While we face near-term business pressures, we enter 2011 on a strong foundation to achieve long-term sustainable growth.