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Johnson & Johnson plans to split into two separate firms
Johnson & Johnson is splitting into two companies to separate the division selling Band-Aids and Listerine from its medical device and prescription drug business.
Highlights
- Johnson & Johnson will keep the same name for the company selling prescription drugs and medical devices.
- The name of the other company isn't revealed yet.
- The company expects the split to occur in the next two years.
New Delhi: 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.
The new consumer health company will house brands including Neutrogena, Aveeno, Tylenol, Listerine, Johnson's, and Band-Aid.
A name was not disclosed for the new company.
Details are sparse, but the company expect the split to occur in the next two years. Also Read: Rakesh Jhunjhunwala Portfolio: Big Bull bullish on THIS stock, should you invest?
The announcement comes just days after General Electric said that it plans to split into three separate companies. Also Read: Retail sales up 34% in October; jewellery, Apparel segments make recovery: Retailers Association of India