Home World US lab Johnson & Johnson announces plan to split into two

US lab Johnson & Johnson announces plan to split into two

Laboratorio de EEUU Johnson & Johnson anuncia plan para dividirse en dos

US laboratory Johnson & Johnson announced plans Friday to split into two entities, turning its over-the-counter and hygiene branch into a separate company.

The spin-off will involve the creation of "two world leaders who will be better positioned to deliver better health outcomes for patients and consumers through innovation"J&J said in a statement.

It is the third major company to announce a plan to split its business this week, after General Electric and Toshiba.

J&J plans to complete its separation in 18-24 months, creating two different publicly traded companies.

CEO Alex Gorsky said the decision was made after a "comprehensive evaluation".

The board and management consider the division to be "the best way to accelerate our efforts to serve patients, consumers and healthcare professionals, create opportunities for our talented global team, grow with benefits, and – most importantly – improve healthcare outcomes for people around the world", said.

He added that the separation "highlights our focus on providing industry-leading innovations in the biopharmaceutical and medical device sector, aiming to bring new solutions to market for patients and healthcare systems, while creating sustainable value for shareholders".

The company also said that its 136,000 employees worldwide "will continue to be the backbone of this business".

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