J&J Splits Consumer Brand From Pharma and Med Device

A recent MedTechDive article noted that Johnson & Johnson is splitting its business into two distinct divisions. The company will separate its consumer health division into a new publicly traded company. The brands that will make the move include Tylenol, Listerine, and Band-Aid. The prescription drug and medical device units will continue to run with its current leadership in place. However, the new company, which still doesn’t have a name, will assign a new executive team to lead it. CEO Alex Gorsky will step down from his position at the end of the year and become executive chairman, and Joaquin Duato will succeed him.