Johnson & Johnson CEO Acquires $9M Condo in Manhattan
Johnson & Johnson CEO, Alex Gorsky and his wife, Patricia, purchased a condo in Manhattan at the One Riverside Park for $9 million.
According to property records, the amount paid is well over its $8.86 million asking price. The pharmaceutical giant has agreed to pay $2.2 billion in 2013 as a result of criminal and civil fines for improperly promoting the anti-psychotic drug, Risperdal, to older people with dementia in nursing homes, and even children with developmental disabilities.
Johnson & Johnson promoted the drug despite its health risks, and they also gave kickbacks to a company that had ties with the nursing home.
A graduate of Wharton School of the University of Pennsylvania and West Point, Gorsky was vice president for sales and marketing and later became the president of Johnson & Johnson at the time of the scandal.
The 3,190-square-foot home of Gorsky, has four bedrooms and four-and-a-half bathrooms. It also features a chef's kitchen, a formal dining room, and a master bathroom with a Zuma soaking tub, along with plank oak flooring throughout.
The condo building also features a 40,000-square-foot gym and spa with a pool, basketball and squash courts, a rock climbing wall, two-lane bowling alleys, an indoor children's playground, a golf simulator, and a screening room.
Alex Gorsky began his career with Johnson & Johnson as a sales representative with Janssen Pharmaceutica in 1988.
In 2003, he was appointed as Company Group Chairman of Johnson & Johnson's pharmaceuticals business in Europe, the Middle East and Africa.
In 2004, Gorsky left Johnson & Johnson to join the Novartis Pharmaceuticals Corporation, where he acted as head of the pharmaceuticals business in North America.
In 2008, he returned to Johnson & Johnson as Company Group Chairman for Ethicon, Inc. He was appointed Worldwide Chairman of the Medical Devices segment in September of 2009.
By January 2011, he became Vice Chairman of the Executive Committee of Johnson & Johnson. On April 26, 2012, he was named CEO, and later Chairman of the Board on Dec. 28, 2013.