The separation, the company said, is designed to "deliver improved health outcomes for patients and consumers through innovation" and accelerate growth. File Photo by Justin Lane/EPA-EFE
The consumer products business sells over-the-counter items like Tylenol, Band-Aid products and baby powder, the latter of which has been at the center of long-running litigation.
One of the new companies will focus solely on consumer items like Johnson & Johnson baby powder and other household items like Tylenol and Neutrogena. File Photo by Dan Peled/EPA
Johnson & Johnson presently produces one of three COVID-19 vaccines approved for use in the United States.
The company said that it could take up to two years to complete the split.
The separation, the company said, is designed to "deliver improved health outcomes for patients and consumers through innovation, pursue more targeted business strategies and accelerate growth."
The split must be approved by Johnson & Johnson's board of directors.
Friday's announcement came just a few days after another American conglomerate, General Electric, announced that it's splitting into three separate companies to separate its health, energy and aviation businesses.