Johnson & Johnson to split into two companies
New Brunswick (US), Nov 12: Johnson & Johnson is splitting into two companies, separating the division that sells Band-Aids and Listerine, from its medical device and prescription drug business.
The company selling prescription drugs and medical devices will keep Johnson & Johnson as its name, the company said Friday.
That company will include treatments such as Darzalex, Erleada, Imbruvica, Stelara and Tremfya as well as medical device solutions across interventional solutions, orthopaedics, surgery and vision.
The new consumer health company will house brands including Neutrogena, Aveeno, Tylenol, Listerine, Johnson's, and Band-Aid.
It is expected to generate revenue of approximately USD 15 billion for the year. A name was not disclosed for the new company.
Following a comprehensive review, the board and management team believe that the planned separation of the consumer health business is the best way to accelerate our efforts to serve patients, consumers, and healthcare professionals, create opportunities for our talented global team, drive profitable growth, and - most importantly - improve healthcare outcomes for people around the world, CEO Alex Gorsky said in a statement.
Details are sparse, but Johnson & Johnson expects the split to occur in the next two years, if approved by the company board.
The announcement comes just days after General Electric said that it plans to split into three separate companies.
Shares of Johnson & Johnson rose more than 4 per cent before the market opened.
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Two people killed as poultry vehicle rams into parked truck in Belagavi
Belagavi (Karnataka) (PTI): Two people were killed, and another was severely injured after a goods vehicle transporting poultry birds allegedly rammed into a stationary truck on a national highway in Belagavi in the early hours of Tuesday, police said.
The deceased have been identified as Wasim (28) and Mubarak (22), both natives of Shivamogga district, they said.
The driver of the vehicle, Basavaraj Eerappa Hanchinamani (37), suffered critical injuries and has been admitted to a hospital, police said.
According to police, the accident occurred when the driver reportedly lost control of the vehicle, allegedly due to drowsiness, and crashed into a truck parked along the highway.
The goods vehicle was en route from Kolhapur to Sorab in Shivamogga district, carrying poultry. Several chickens were also killed in the impact, a senior police officer said.
Police personnel from the Hirebagewadi Police Station visited the spot and conducted an inspection.
Injured people and the bodies of the deceased were shifted to a hospital, police added.
