Johnson & Johnson Splitting Itself Into Two Companies
The health care giant announced that in the next 18 to 24 months it will spin off its consumer division — with brands like Band-Aid, Tylenol and Listerine — into a yet-to-be-named company. Its pharmaceutical and medical-devices businesses will be retained under Johnson & Johnson.
AP:
Johnson & Johnson To Split Into Two Companies
Johnson & Johnson is splitting into two companies, separating the division that sells Band-Aids and Listerine, from its medical device and prescription drug business. The company said Friday the move will help improve the focus and speed of each company to address trends in their different industries. The company selling prescription drugs and medical devices will keep Johnson & Johnson as its name, the company said Friday. That company will include treatments such as Darzalex, Erleada, Imbruvica, Stelara and Tremfya as well as medical device solutions across interventional solutions, orthopaedics, surgery and vision. (Chapman, 11/12)
CNBC:
J&J Plans To Split Into Two Companies, Separating Consumer Products And Pharmaceutical Businesses
The company said it hopes to complete the transaction in 18 to 24 months. The pharmaceutical and medical device division, which includes advanced technologies like robotics and AI, would retain the name Johnson & Johnson and have J&J’s incoming CEO Joaquin Duato at its helm. ... Its yet-to-be-named consumer products company will also inherit litigation stemming from lawsuits over claims that its Johnson’s Baby Powder causes cancer, allegations the company has vehemently denied. (Pound and Kopecki, 11/12)
The Wall Street Journal:
Johnson & Johnson Plans To Split Into Two Public Companies
The separation will kick off the biggest change in direction in J&J’s 135-year history. Disposable diapers, indigestion tablets and cough remedies powered J&J during its early history, then provided the diversification that helped the company ride out the ups and downs of its riskier but higher-reward pharmaceuticals and medical-devices businesses. (Rockoff and Loftus, 11/12)
Also —
CBS News:
CVS Withdraws Supreme Court Case On Disability Rights, Announces New Partnership
The CVS pharmacy chain has reached an agreement with a coalition of disability rights organizations and dropped a legal case that had made it all the way to the U.S. Supreme Court. The court was scheduled to hear arguments in the dispute next month, and the ruling could have had far-reaching effects on disability rights. (Roppolo, 11/11)
