Johnson & Johnson, an American pharmaceutical giant, has announced plans to split its consumer business into two to streamline operations.
According to a plan announced on the 12th by American pharmaceutical giant Johnson & Johnson, the company will be split into two companies by splitting the business of over-the-counter drugs for consumers.
As a result, Johnson & Johnson will concentrate on the medical business such as medical devices and prescription drugs, and each of the two companies will streamline their management under a more targeted strategy.
The spin-off is aimed to be completed within one and a half to two years, and the spin-off company is planning to go public.
"Boards and management believe that the spin-off of consumer businesses is the best way to improve medical outcomes for people around the world," said Alex Gorski.
Among major manufacturers with multiple businesses, Toshiba and GE General Electric of the United States have also announced plans to split the company, and there are a series of moves aimed at improving management efficiency through the company split.