Johnson and Johnson says it is planning to split into two companies
November 12, 2021, 1:33 pm

Johnson and Johnson says it is planning to split into two companies

Johnson and Johnson/Official Facebook page

The Channel News Asia reported according to Reuters, Johnson & Johnson said on Friday (Nov 12) it is planning to break up into two companies, splitting off its consumer health division that sells Band-Aids and Baby Powder from its large pharmaceuticals unit.

The healthcare conglomerate will separate its consumer health business into a new publicly traded company. Rival Pfizer had in 2019 combined its consumer health unit with GlaxoSmithKline plc in a joint venture.

Johnson & Johnson said it is aiming to complete the planned separation in 18 to 24 months, sending its shares up 5 per cent before the bell.

Johnson and Johnson-For all you love-Official Facebook page

The company will retain its pharmaceuticals and medical device units, which sells drugs such as cancer treatment Darzalex. The units are expected to generate revenue of roughly US$77 billion in 2021.

"The new Johnson & Johnson and the New Consumer Health Company would each be able to more effectively allocate resources to deliver for patients and consumers, drive growth and unlock significant value," said Joaquin Duato, who is expected to become J&J's chief executive officer in January.

The planned split comes days after US industrial conglomerate General Electric said it would separate into three public companies to simplify its business and pare down debt.

On Friday, Japan's Toshiba outlined plans on Friday to split into three independent companies.

Source: cna

UN official: Lebanon may turn into 'failing state' if government fails to implement reform African campaigners say COP26 conclusions fail to revitalize Africa's green future

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”