NEW JERSEY: The US pharmaceutical giant Johnson and Johnson plans to split its company into two in the next two years.
The division that sells prescribed drugs and medical devices will part away from Band-Aids and Listerine. The former sells $80 billion in a year compared to the latter which does limited sales of $15 a year. The plan was to boost the sales of the products.
The division which sells the drugs and medical devices will keep up its name as Johnson and Johnson, the other new consumer company holding brands like Neutrogena, Aveeno, Tylenol, Listerine, Johnson’s, and Band-Aid is yet to be named.
“The new Johnson & Johnson and the new consumer health company would each be able to more effectively allocate resources to deliver for patients and consumers, drive growth and unlock significant value,” said Joaquin Duato, the upcoming CEO of Johnson & Johnson.