Posted on Nov 12, 2021, 5:53 PMUpdated Nov 12, 2021 6:15 PM
Spin-offs are popular in the United States. After General Electric, which announced earlier in the week that it was splitting into three separate companies, it is the turn of Johnson & Johnson to multiply. The pharmaceutical giant will move out of its scope its consumer health and hygiene activities, including the band-aid brands of Band-Aid, Johnson baby talc, Neutrogena creams and Tylenol drugs. Johnson & Johnson will retain its pharmaceutical, prescription drugs, vaccines and medical equipment business.
“The Board of Directors and the management team believe that the separation of the consumer healthcare business is the best way to accelerate our efforts to serve patients, consumers and healthcare professionals, creating opportunities for our talented team across the globe, driving profitable growth and, more importantly, improving healthcare performance, ”said Johnson & Johnson boss Alex Gorsky.