J&J to unlock value through spin out of Consumer Health unit
US healthcare giant Johnson & Johnson (NYSE: JNJ) says it intends to separate the company’s Consumer Health business, creating a new publicly traded company. Shares in J&J gained 4.3% in pre-market trading in New York on Friday but closed up just 1.2% at $165.01.
The planned separation would create two global leaders that are better positioned to deliver improved health outcomes for patients and consumers through innovation, pursue more targeted business strategies and accelerate growth.
Following the planned separation, the new Johnson & Johnson would remain the world’s largest and most diverse healthcare company and continue its commitment to lead in global healthcare R&D and innovation, with a portfolio that blends its strong Pharmaceutical and Medical Device capabilities focused on advancing the standard of care through innovation and technology.
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