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Johnson & Johnson to spin off consumer arm to focus on medical division
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Healthcare giant Johnson & Johnson is to spin off its consumer arm, known for its Band-Aid plasters, baby shampoo and Listerine mouthwash, to focus on developing medicines and medical devices.
The New Jersey-headquartered firm, which employs 136,000 people worldwide, said it would remain the world’s largest healthcare company even after the shake-up, the biggest in its 135-year history. The consumer division, which is expected to generate $15bn (£11bn) in sales this year and employs 19,000 people, will be split off in 18 to 24 months’ time, probably through a stock offering, following similar moves from rivals such as GSK.
J&J will be left with its pharmaceutical and medical devices businesses, which make drugs for prostate cancer and other
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