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J&J to split into 2 companies to divide medical, consumer businesses

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J&J to split into 2 companies to divide medical, consumer businesses
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

Nov. 12 (UPI) -- Johnson & Johnson announced on Friday that it will split into two companies -- one to handle its pharmaceutical and medical devices business and another to handle its consumer products like Listerine and Neutrogena.

The company said the pharma and devices business will keep the Johnson & Johnson name. The other does not yet have a name.

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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.

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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.

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