NEW YORK: US pharmaceutical giant Johnson & Johnson on Friday announced plans to break up into two companies, separating its consumer health arm that sells Band-Aids and Tylenol from its pharmaceutical division.
Johnson & Johnson said in a statement that it will create “two global leaders who are better positioned to deliver better health outcomes for patients and consumers through innovation.”
It is the third major company to announce plans to break up its business after this week. general Electric And toshiba,
Johnson & Johnson plans to complete the separation in 18-24 months, creating the two publicly traded companies.
CEO alex gorsky Said that the decision was made after “extensive review”.
The Board and Management believe that the division is “the best way to accelerate our efforts to serve patients, consumers and healthcare professionals, create opportunities for our talented global team, drive profitable growth, and – most importantly – improves health-related outcomes for people around the world,” he said.
He added that Isolation “adds our focus on providing industry-leading biopharmaceutical and medical device innovation and technology with the goal of bringing new solutions to market for patients and healthcare systems while creating lasting value for shareholders.”
The company said that its more than 136,000 employees worldwide “will continue to be the backbone of these businesses.”
Earlier this week, General Electric announced plans to split into three publicly traded companies.
Japan’s Toshiba said on Friday it was splitting into three companies following a campaign by investors to boost the group’s shares after a period of turmoil.
Johnson & Johnson said in a statement that it will create “two global leaders who are better positioned to deliver better health outcomes for patients and consumers through innovation.”
It is the third major company to announce plans to break up its business after this week. general Electric And toshiba,
Johnson & Johnson plans to complete the separation in 18-24 months, creating the two publicly traded companies.
CEO alex gorsky Said that the decision was made after “extensive review”.
The Board and Management believe that the division is “the best way to accelerate our efforts to serve patients, consumers and healthcare professionals, create opportunities for our talented global team, drive profitable growth, and – most importantly – improves health-related outcomes for people around the world,” he said.
He added that Isolation “adds our focus on providing industry-leading biopharmaceutical and medical device innovation and technology with the goal of bringing new solutions to market for patients and healthcare systems while creating lasting value for shareholders.”
The company said that its more than 136,000 employees worldwide “will continue to be the backbone of these businesses.”
Earlier this week, General Electric announced plans to split into three publicly traded companies.
Japan’s Toshiba said on Friday it was splitting into three companies following a campaign by investors to boost the group’s shares after a period of turmoil.
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