Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Johnson & Johnson Stock Jumps on Reports It Plans to Split In Two

by
November 12, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
Text size

An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California

Mark Ralston/AFP via Getty Images


Johnson & Johnson

announced plans on Friday to split from its consumer health division, spelling the end of the last great pharmaceutical conglomerate.

Johnson & Johnson (ticker: JNJ) shares were up on the news, which comes two months before a planned CEO transition, in which longtime Johnson & Johnson executive Joaquin Duato is slated to replace Alex Gorsky in the top post.

RELATED POSTS

JetBlue extends tender offer date for Spirit Airlines to July 29

Euro zone inflation hits record as European Central Bank prepares for first rate hike in 11 years

Johnson & Johnson said that the split will take 18 to 24 months. The consumer health division, which the company said is expected to generate $15 billion in revenue this year, will become a new publicly traded company, selling big-name brands home health brands like Band-Aid, Tylenol, and Listerine.

The pharmaceutical and medical devices divisions, which the company expects to generate revenue of $77 billion this year, will stay behind as a separate company, selling a range of treatments and devices, from balloons used in sinus procedures to bladder cancer therapies. Johnson & Johnson has chosen not to split those two business segments.

Today, with a market value of $432.5 billion, Johnson & Johnson is the largest pharmaceutical company in the world. Johnson & Johnson says that the stay-behind pharmaceutical and medical device business will remain the biggest pharmaceutical company in the world.

Johnson & Johnson stock was up 4.9% in premarket trading Friday, while

S&P 500
futures had advanced 0.2% and

Dow Jones Industrial Average
futures had risen 0.2%.

Johnson & Johnson has become something of an anachronism in recent years, as its competitors have shed their consumer health divisions one after another.


Pfizer

(PFE) handed its consumer health business to


GlaxoSmithKline

(GSK) in 2019; Glaxo is planning on spinning off the combined business soon.

The market has taken time to warm up to those deals.

Johnson & Johnson would be the third company with plans to break up that were revealed this week. General Electric (GE) said it will break itself up into three parts, while


Toshiba

has said it plans to split up as well.

Write to Ben Levisohn at ben.levisohn@barrons.com

ShareTweetPin

Related Posts

JetBlue extends tender offer date for Spirit Airlines to July 29

by
July 1, 2022
0

A photo of a Spirit Airlines jet coming in for a landing in Las Vegas on 25 May 2020. JetBlue...

Euro zone inflation hits record as European Central Bank prepares for first rate hike in 11 years

by
July 1, 2022
0

The ECB has announced it will be hiking rates in July and September to counter record inflation. Daniel Roland |...

Five reasons bitcoin had its worst quarter in more than a decade

by
July 1, 2022
0

In this article BTC.CM= Bitcoin just had its worst quarter since 2011 and its worst month on record. The world's...

Elon Musk is smart — but he doesn’t understand ESG, tech CEO says

by
July 1, 2022
0

In this article XOM TSLA In May, electric-vehicle maker Tesla was removed from the S&P 500's ESG Index. In response,...

The Latest Inflation Data Is (Mildly) Good News for the Fed

by
July 1, 2022
0

Fed chief Jerome Powell, shown testifying before a House panel last week, may not have to raise rates as aggressively...

Next Post

Stocks making the biggest moves premarket: Johnson & Johnson, Rivian, Lordstown and more

J&J plans to split into two companies, separating consumer products and pharmaceutical businesses

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net