J&J CEO: We've learned from our manufacturing mistakes

Johnson & Johnson, the U.S. consumer products giant, has suffered through a spate of embarrassing recalls during the past year resulting from complaints about its over-the-counter medications. Nonetheless, the company's chief executive told investors that the company has learned from its mistakes and is poised to emerge "stronger than ever." 

The New York Times reports that William Weldon, who assumed the chief executive role in 2002, said he, along with employees, were not pleased with the recalls that plagued the company last year. J&J recalled millions of bottles of its medications like Tylenol and Motrin after consumers complained of foul odors emanating from the bottles and pieces of metal were found, among other issues.

A majority of the recalled products came from a manufacturing facility in Pennsylvania that the company shuttered a year ago; it is currently building a modern plant to replace it. "You would be right to ask if we made mistakes, and yes, we did," Weldon affirmed. "Our goal is to restore McNeil Consumer Health Care to the highest level of quality … thus restoring confidence in McNeil."

Following the recalls, J&J invested millions of dollars to inspect its production facilities around the globe, Weldon said.