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Major Drug Company in Hot Seat Again

Johnson & Johnson CEO William Weldon testified before the House Committee on Oversight and Government Reform on Thursday, September 30, apologizing for making a mistake and letting the public down with the numerous recalls his company has had lately.

In a report by CNNMoney.com, Weldon also admitted that the company secretly bought up defective drugs without informing regulators and consumers of its actions:

"I know that we let the public down. We did not maintain our high quality standards. Children do not have access to our important medicines. I accept full accountability for the problems and I will take full accountability for fixing them," the Times reported Weldon as saying in prepared remarks Thursday to the Committee on Oversight and Government Reform.

CNN also said that Weldon told the committee that the long delays in issuing product recalls after first becoming aware of adverse event reports and consumer complaints was "an area where we've learned a very important lesson."

"We definitely don't want to defend our actions there and we don't want to make any excuses. We have benefited by being here. I can only assure you that we are doing everything in our power to never let this happen again," he said.

CNN said lawmakers met Weldon’s comments “with skepticism."

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