Johnson & Johnson (New Brunswick, N.J.) will separate its pharmaceutical and medical device business from its consumer products division, reports Quartz. The split is expected to be completed in two years.
While the consumer products business will be part of a newly named, publicly traded company, the pharma/medical device business will remain under the J&J banner. The prescription drug and medical device divisions are the brand owner’s fastest-growing and most profitable businesses. Consumer products, on the other hand is slower-growing and is also facing numerous lawsuits regarding its talc products.
