Consumer health brought in $ 3.7 billion.
Business
Johnson & Johnson to split into 2 and aim for faster growth | Economic news
The leader and name of the new consumer health company have yet to be announced. It will be home to brands such as Neutrogena, Aveeno and the iconic Band-Aids, which a company employee created over 100 years ago.
This segment has more than 20 brands that each have more than $ 150 million in annual sales, Gorsky noted. He added that the portfolio includes well-known names like Tylenol and Children’s Tylenol which have reached record levels of market share.
Johnson & Johnson is also facing thousands of lawsuits claiming that one of its consumer products, talcum baby powder, causes ovarian cancer and mesothelioma.
Last month, J&J announced that it had created a separate subsidiary to handle these claims, and that subsidiary has filed for voluntary Chapter 11 bankruptcy protection.
Company officials said the split they announced on Friday was separate from that baby powder liability and bankruptcy proceedings.
But Morningstar analyst Damien Conover noted in an email that if the consumer division no longer holds the deep pockets of the combined company, the risk of future consumer product litigation such as the important talcum powder could decrease.
Johnson & Johnson, which was founded in 1886, said on Friday its split would take place within the next two years, if approved by the company’s board of directors.
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