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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Election results prove Modi best for national security: R Ashoka
Bengaluru: Leader of Opposition in Karnataka Assembly R. Ashoka said the election results show that Narendra Modi is the most suitable leader for the country’s security.
Speaking to the media, he claimed that the political future of Mamata Banerjee and her government has come to an end. He alleged that around two crore people from Bangladesh were helped to enter the country with Aadhaar cards.
Ashoka said that even though elections were held in five states, the entire country’s attention was on West Bengal. He attributed this to what he described as misgovernance in the state.
He further said there were continuous political allegations and objections related to CBI matters, and added that such developments have now come to an end with the latest election outcome.
