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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Delhi airport incident: AI Express issues show cause notice to pilot
External inquiry panel to be set up
New Delhi (PTI): Air India Express will set up an external committee next week to inquire into the incident of one of its off-duty captain assaulting a passenger at the Delhi airport on Friday, sources said.
Soon after the incident on Friday, the Tata Group-owned airline suspended the pilot and the sources told PTI that a show cause notice has also been served to him seeking an explanation.
The proceedings are being carried under the labour laws as a pilot comes under the workmen category. An external inquiry committee will set up next week to probe the incident, the sources said.
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The incident occurred at Terminal 1 (T1) of the Delhi airport on Friday.
The passenger Ankit Dewan, on Friday, shared his experience in a social media post, along with a photo showing blood on his face after the altercation. He also shared a photo of the pilot Virender Sejwal.
On Saturday, the civil aviation ministry said it has taken serious cognizance of the incident and directed the airline to ground the pilot with immediate effect.
"A formal enquiry has been ordered. Detailed reports have been sought from BCAS and CISF," the ministry had said in a post on X in a response to a post by Dewan.
In a statement on Friday, Air India Express said it is aware of an incident at the Delhi airport involving one of its employees, who was travelling as a passenger on another airline, and had an altercation with another passenger.
"We unequivocally condemn such behaviour. The employee concerned has been removed from official duties with immediate effect, pending investigation.
"Appropriate disciplinary action will be initiated based on the findings of the inquiry," the airline had said.
Air India Express officials had also contacted the passenger.
