Johnson & Johnson Announces Plans to Accelerate Innovation, Serve Patients and Consumers, and Unlock Value through Intent to Separate Consumer Health Business

New Consumer Health Company would be a Global Leader with Iconic Brands and Products that Touch Over One Billion Lives Every Day
Johnson & Johnson would Remain a Global Leader in Healthcare, Focused on Major Unmet Medical Needs and Materially Advancing Standard of Care through Biopharmaceutical and Medical Device Innovation and Technology
Separation Designed to Enhance Operational Performance and Strategic Flexibility, Benefiting Patients and Consumers and Unlocking Value for All Stakeholders
New Consumer Health Company Expected to Complete Separation in 18 to 24 Months
Johnson & Johnson to Host Investor Conference Call Today at 8:30 a.m. ET

Johnson & Johnson (the “ Company”) (NYSE JNJ) moment blazoned its intent to separate the Company’s Consumer Health business, creating a new intimately traded company. The planned separation would produce two global leaders that are more deposited to deliver advanced health issues for cases and consumers through invention, pursue further targeted business strategies and accelerate growth.
Following the planned separation, the new Johnson & Johnson would remain the world’s largest and most different healthcare company and continue its commitment to lead in global healthcare R&D and invention, with a portfolio that blends its strong Pharmaceutical and Medical Device capabilities concentrated on advancing the standard of care through invention and technology. As preliminarily blazoned,Mr. Alex Gorsky will serve as Administrative President of Johnson & Johnson and transition the Chief Executive Officer part toMr. Joaquin Duato, presently Vice Chairman of the Company’s Executive Committee, effective January 3, 2022.Mr. Duato would continue to lead the new Johnson & Johnson following completion of the planned separation.

The New Consumer Health Company would be a leading global consumer health company, touching the lives of over one billion consumers around the world every day through iconic brands similar as Neutrogena, AVEENO ®, Tylenol ®, Listerine ®, JOHNSON’s ®, and BAND- AID ® and continuing its heritage of invention. The New Consumer Health Company’s Board of Directors and administrative leadership would be determined and blazoned in due course as the planned separation process progresses.
Mr. Gorsky said, “ Throughout our fabled history, Johnson & Johnson has demonstrated that we can deliver results that profit all our stakeholders, and we must continually be evolving our business to give value moment, hereafter and in the decades ahead. Following a comprehensive review, the Board and operation platoon believe that the planned separation of the Consumer Health business is the stylish way to accelerate our sweats to serve cases, consumers, and healthcare professionals, produce openings for our talented global platoon, drive profitable growth, and – most importantly – ameliorate healthcare issues for people around the world.”

Mr. Gorsky continued, “ For the new Johnson & Johnson, this planned separation underscores our focus on delivering assiduity- leading biopharmaceutical and medical device invention and technology with the thing of bringing new results to request for cases and healthcare systems, while creating sustainable value for shareholders. We believe that the New Consumer Health Company would be a global leader across seductive and growing consumer health orders, and a streamlined and targeted commercial structure would give it with the dexterity and inflexibility to grow its iconic portfolio of brands and introduce new products. We’re committed to the success of each association, as well as our company’s further than workers around the globe, who’ll remain the backbone of these businesses.”
Mr. Duato reflected, “ This planned sale would produce two businesses that are each financially strong and leaders in their separate diligence. We believe that the new Johnson & Johnson and the New Consumer Health Company would each be suitable to more effectively allocate coffers to deliver for cases and consumers, drive growth and unlock significant value. Importantly, the new Johnson & Johnson and the New Consumer Health Company would remain charge driven companies with exceptional brands, commitments to invention, and remarkable gift. Each company would carry on the Johnson & Johnson heritage of putting the requirements and well- being of the people we serve first.”

The planned separation is anticipated to produce value for all stakeholders by aiming to achieve the following crucial pretensions
Increase Operation focus, coffers, dexterity and speed to effectively address differing assiduity trends and to more meet the requirements of the new Johnson & Johnson and the New Consumer Health Company cases and consumers;
The new Johnson & Johnson would remain married to maintaining a strong balance distance and to its pronounced capital allocation precedences of R&D investment, competitive tips and value-creating accessions.
New Consumer Health CompanyPost-Separation A Leading Global Consumer Health Company with Iconic Brands and Commitment to Continued Innovation
The New Consumer Health Company would be a global leader with a important portfolio of iconic brands — comprising four$ 1 billion megabrands and 20 brands over$ 150 million — and leading positions in Self Care (OTC), Skin Health and Essential Health, which includes baby care, womanlike care, crack care and oral health. The Consumer Health member is anticipated to induce profit of roughly$ 15 billion in Full- Time 2021 (2) and, following the planned separation, the New Consumer Health Company would induce deals in over 100 countries, driven by world- class invention capabilities and demonstrated business instigation.

About Johnson & Johnson
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for further than 130 times, we’ve aimed to keep people well at every age and every stage of life. Moment, as the world’s largest and most astronomically- grounded healthcare company, we’re committed to using our reach and size for good. We strive to ameliorate access and affordability, produce healthier communities, and put a healthy mind, body and terrain within reach of everyone, everyplace. We’re blending our heart, wisdom and imagination to profoundly change the line of health for humanity.

Source link: