Healthcare giant Johnson & Johnson will split itself into two publicly traded companies.
More details🧐 The spinoff company, yet to be named, will encompass J&J’s consumer famous product brands like Band-Aid brand Aveeno & Neutrogena skincare products, Tylenol for pain relief, Johnson’s Baby Care products, & Listerine mouthwash, to name a few.
The company that’s set to retain the Johnson & Johnson name, will focus on pharmaceutical & medical device operations, with its J&J COVID-19 vaccine being one of the products.
Why is this important🤔 The move follows U.S. industrial giant General Electric to announce plans of a company split, in an effort to focus on individual businesses. Japanese giant Toshiba also announced plans of splitting into three companies.
“We do think it is a big and bold initiative, but ultimately we think this is about increasing innovation & accelerating growth,” company chief executive Alex Gorsky said.
