Johnson and Johnson Splits into 2 Public Companies for Faster Growth

By NATE GARTRELL On Nov 13, 2021

In order to separate its Band-Aids and Listerine companies from its medical devices and prescription drug businesses, Johnson & Johnson will split into two companies.

Johnson & Johnson will continue to sell prescription drugs and medical devices under its name, the company announced Friday.

Brands that will be part of the company — Johnson & Johnson — include Neutrogena, Aveenoq, Tylenol, Listerine, Johnson’s, and Band-Aid.

There was no word about the name of the new company.

It is also unclear when the split will take place, but the company expects it will take place within two years.

“We believe that 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,” J&J CEO Alex Gorsky stated.

J&J and Moderna boosters were approved by the CDC panel.

Gorsky will step down from his position as chief executive on January 3, 2022, who will be succeeded by Joaquin Duato, who is currently vice-chairman of the company’s executive committee.

By the fall of 2023, the split should be complete.

In 1886, Robert Wood Johnson, Edward Mead Johnson, and James Wood Johnson formed the company as a manufacturer of surgical supplies.

Before the opening of the market, Johnson & Johnson’s stock increased by 3%.

A few days earlier, General Electric also announced its plans to split into three separate companies.