Johnson & Johnson in Ireland records €296m loss

Pharma giant made provisions for claims concerning an anti-psychotic drug

Johnson & Johnson is headquartered in New Brunswick, New Jersey, US. Picture: Mark Kauzlarich/Bloomberg

A Cork-based unit of pharma giant, Johnson & Johnson (J&J) recorded pre-tax losses of €296.15m due last year to the firm making provisions for claims concerning an anti-psychotic drug.

New accounts lodged by Janssen Pharmaceutical Sciences Unlimited show that the firm recorded the pre-tax losses of €296.15m after recording a pre-tax profit of €155.48m in the prior year – a negative swing of €451.63m.