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Johnson & Johnson announced the separation of the corporation

On Friday, it became known that the American pharmaceutical giant Johnson & Johnson plans to separate its business project into a separate public company aimed at producing products to ensure the health of consumers.

According to the company's release, the separation of J&J will lead to the formation of two international leaders capable of implementing more narrowly focused business ideas. So, Johnson & Johnson plans to separate the consumer goods division into a separate company within 1.5-2 years.


In addition, the chief executive officer of Johnson & Johnson, Alex Gorsky, said that after the separation of the consumer goods division into a separate business, the company plans to conduct an IPO of the securities of the new company in the US stock market.

Another important news from J&J was the announcement that from January 3, Gorsky will transfer his powers to Joaquin Duato.

To date, Johnson & Johnson is the world's largest company selling health products. The corporation includes 265 companies in 60 countries of the world, the total number of Johnson & Johnson employees is more than 126,000 people. Among the most popular brands of the pharmaceutical giant is Clean & Clear, Johnson's baby, and Reach.

Stock market participants instantly reacted to the spectacular news from J&J with a positive attitude, and soon the securities of the American company rose in value by 5% to $ 171.5 per share. Later, the quotes began to decline to 4%, and their price sank to $ 169.7.

Recall that on the eve of the future division into several separate businesses, General Electric and Toshiba corporations announced.

Thus, General Electric plans to split into three public companies by the beginning of 2023, and the Japanese concern Toshiba will separate businesses by March 2024.

The material has been provided by InstaForex Company -