Johnson & Johnson plans to spin off… Distinguish between pharmaceutical and consumer products.

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Johnson & Johnson of the United States announced on the 12th that it plans to spin-off into two companies: the consumer health product sector and the pharmaceutical and medical equipment sector.

According to CNBC and others, Band-Aid bandages and Tylenol, mouthwash Listerine, and skin care brands Avino and Neutrogena will fall into the consumer health sector.

The name of the new company in the consumer sector has not been decided yet.

The pharmaceutical sector, including prescription drugs, medical devices, and COVID-19 vaccines, will continue to use the Johnson & Johnson name.

CEO Joaquin Duatto, scheduled to take office in January next year, will take over the pharmaceutical division.

“After a comprehensive review, our Board and Executive Board of Directors and executives have determined that this spin-off will benefit patients, consumers and healthcare professionals alike, drive earnings growth and improve health outcomes for humanity worldwide,” said current CEO Alex Gorky in a statement. I thought it was the best way to do it.”

Johnson & Johnson’s sales forecast for this year is $77 billion in pharmaceutical and medical equipment, about 90.8 trillion won in Korean money, 15 billion dollars in consumer products, and about 17.7 trillion won in Korean money.

Previously, US pharmaceutical company Pfizer spun off its consumer health products division in 2019.

(Photo=AFP, Yonhap News)

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Reference-news.sbs.co.kr

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