As per reports, Johnson & Johnson (JNJ) is to split its consumer products business from its pharmaceutical and medical device operations, creating two publicly traded companies. The move will separate its household/consumer products unit, maker of Band-Aid bandages, Aveeno and Neutrogena skincare products, and Listerine, from its riskier but fast-growing pharmaceutical and medical device division, that makes and sells prescription drugs and medical devices, including its Covid-19 vaccine.
The healthcare conglomerate expects to complete the transaction in 18 to 24 months. The pharmaceutical and medical device division will retain the name Johnson & Johnson and will be led by J&J’s incoming CEO, Joaquin Duato, who is expected to take over the role in January.
The pharmaceutical and medical device division is expected to generate roughly $77 billion in revenue while the consumer products division is forecast to sell about $15 billion in products this year. The consumer products company, which is yet to be named will also take over litigation coming from lawsuits over claims that its Johnson’s Baby Powder causes cancer, allegations the company has not agreed to.
Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare-focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.
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