A new CEO has taken the reigns at Johnson & Johnson, and he plans major changes for the company, according to a New York Times report.

Johnson & Johnson's first quarter orthopedics sales were flat, with sales in the United States dropping 3.5 percent.

The European Commission has approved Johnson & Johnson's $21.3 billion acquisition of Synthes.

Johnson & Johnson executives discussed the significant failures for metal-on-metal hip implants in August 2009, well before the company announced a recall in 2010, according to a New York Times report.

Johnson & Johnson announced CEO Bill Weldon will relinquish his role as CEO and Alex Gorsky will take his place.

Johnson & Johnson recently made concessions to convince the European Union's antitrust regulator that it's acquisition of Swiss company Synthes is clear of any issues, according to a New York Times report.

Johnson & Johnson and the University of Queensland's Institute of Molecular Bioscience drug development program will co-develop drugs for the treatment of chronic pain using parts of spider venom, according to a Bloomberg Businessweek report.

Synthes reported full year earnings at $966.8 million, a 6.5 percent increase over 2010, according to a company news release.

The Food and Drug Administration sent a letter to Johnson & Johnson's DePuy Orthopaedics, dated Dec. 8, warning the company that several of its hip, knee and joint replacement products were improperly marketed, according to a Wall Street Journal news report.

After holding a special meeting on Dec. 15, Synthes stockholders agreed to the acquisition offer proposed by Johnson & Johnson earlier this year, according to a Synthes news release.