Quick Take: Johnson & Johnson Jilts Junior

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Rise and shine, oh ye weary, sleep-deprived parents. Your lives just got a little tougher.

Sardonic "thanks" go out this morning to Johnson & Johnson (NYSE: JNJ), Novartis (NYSE: NVS), and Wyeth (NYSE: WYE) for their latest move to protect consumers from themselves. In response to a Food and Drug Administration warning that "rare instances of misuse" of pediatric cough and cold medicines have led to overdoses, the Giants of Pharma have announced they will stop selling their respective syrups of salvation. No longer will parents be able to soothe Junior's coughs and sniffles with Robitussin Infant Cough DM Drops, Triaminic Infant & Toddler Thin Strips, or Dimetapp Decongestant Infant Drops.

What's it mean for parents?
From now on, we'll have to suffer alongside our cold-ridden children -- sadly, not in silence.

What's it mean for investors?
Obviously, it means a small dose of lost revenue and earnings at J&J, Novartis, and Wyeth, and additional lost revenue at the pharmacies that hawk their elixirs -- the likes of CVS (NYSE: CVS), Rite Aid (NYSE: RAD), etc.

Maybe it's the sleep-deprived, grouchy, and starting-to-feel-a-sniffle-coming-on parent of a sick child in me talking, but I say: Serves 'em right. Misery loves company.