Johnson & Johnson plans to split into two companies
Johnson & Johnson said on Friday that it is planning to break up into two companies, splitting off its consumer health division that sells Band-Aids and Baby Powder from its large pharmaceuticals unit. The healthcare company will separate its consumer health business into a new publicly traded company and is aiming to complete the planned separation in 18 to 24 months, it said in a statement. J&J will retain its pharmaceuticals and medical device units, which sells drugs such as cancer treatment Darzalex.
Johnson & Johnson said on Friday that it is planning to break up into two companies, splitting off its consumer health division that sells Band-Aids and Baby Powder from its large pharmaceuticals unit.
The healthcare company will separate its consumer health business into a new publicly traded company and is aiming to complete the planned separation in 18 to 24 months, it said in a statement. J&J will retain its pharmaceuticals and medical device units, which sells drugs such as cancer treatment Darzalex. The units are expected to generate revenue of roughly $77 billion in 2021.
Shares of the company rose 5% before the bell.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Johnson & Johnson