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Johnson & Johnson Announces New Entity for Consumer Brands

January 31, 2022

February 2022

Johnson & Johnson announced that it is separating its consumer health care business from its pharmaceutical and medical device business within the next two years, if approved by its board of directors. The intention is to make each business more nimble in its respective market, according to a report from AP Newswire.

“We’ve seen a significant evolution in these markets, particularly on the consumer side,” CEO Alex Gorsky told the AP regarding the increasing shift to online shopping that has only accelerated since the start of the COVID-19 pandemic.

The consumer health care business – the name of which is yet to be determined – will include brands like Band-Aid, Listerine, and Tylenol. The segment selling prescription drugs and medical devices will keep the Johnson & Johnson name and will include medications such as daratumumab (Darzalex) and the J&J COVID-19 vaccine.

The pharmaceuticals and medical devices business are J&J’s largest, earning a combined $19.6 billion in revenue in the third quarter of 2021. Comparatively, consumer health brought in $3.7 billion.

Source: AP Newswire, November 12, 2021.

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