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The American company Johnson & Johnson will be divided into two – one division, which deals with medical devices and prescription drugs, and another, which sells products such as patches and cosmetics, CNN reports.
This move will help improve the focus and speed of each of the departments in order to respond to business trends, the company commented.
The drug division will retain the name Johnson & Johnson. It will continue to deal with the vaccine of the company Janssen, which is owned by Johnson & Johnson
It is not clear what the other company will be called, but it will include leading brands for cosmetics, mouthwash, patches and more. It is expected to generate revenues of $ 15 billion a year.
“The board of directors and the management team believe that the planned separation of the consumer health business is the best way to accelerate our efforts to serve patients, consumers and health professionals, to create opportunities for our talented global team, to stimulate profitable growth and – most “The most important thing is to improve health outcomes for people around the world,” said Johnson & Johnson CEO Alex Gorski in a statement.
The division is expected to be finalized in the next two years.
A few days earlier, another US business giant, General Electric, announced that it was splitting into three separate companies that would focus on aviation, energy and healthcare.
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