Johnson & Johnson says it will separate its segment that sells Band-Aids, Listerine and over-the-counter medicines from its pharmaceutical and medical device business
It is the third major company to announce plans to break up its business this week after General Electric and Toshiba.
The spin-off will create "two global leaders that are better positioned to deliver improved health outcomes for patients and consumers through innovation," Johnson & Johnson said in a statement on Friday. Alex Gorsky, CEO of the 135-year-old company, said the decision to create a new consumer health business was made following a "comprehensive review."
"This planned transaction would create two businesses that are each financially strong and leaders in their respective industries," Duato said.
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Johnson & Johnson Shares Jump In Premarket As Firm Plans To Split Into Two Separate CompaniesI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
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