Johnson & Johnson will split into two companies

(ANSA) – NEW YORK, NOV 12 – Johnson & Johnson splits into two listed companies. The giant, at the height of its 135 years and with more than 136,000 employees, opts for the spin off of its consumer products division, known for patches, shampoos for children and Neutrogena products. The separation will take place in 18-24 months and is “the best way to accelerate efforts to serve our patients, consumers and healthcare professionals,” as well as “push growth,” says CEO Alex Gorsky.

The group plans to complete the separation within 18-24 months, a statement read.

J&J will retain the pharmaceutical and medical equipment divisions. The divisions are expected to generate revenues of approximately $ 77 billion in 2021.

The stock was up 5% in the US pre-market in the wake of the news

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