(Reuters) – Healthcare conglomerate Johnson & Johnson’s will soon spin-off its consumer health division, giving up a part of the company that has been the core to its business and image for more than 130 years.
The split, expected to be completed in 18 to 24 months, will create a company with brands including Neutrogena, Aveeno and Listerine and will compete with industry leaders Procter & Gamble Co and Unilever Plc.
Here are some facts about the past and present products of J&J’s consumer health division:
** One of J&J’s earliest products was the world’s first commercial first aid kit, released in 1888 for railroad workers ** In 1894, J&J released one of its most iconic products – Baby Powder. It stopped selling the powder in the United States and Canada last year, saying demand had fallen in the wake of what it called “misinformation” about the product’s safety ** J&J launched its adhesive bandages, Band-Aid, in 1921. The product gained popularity after millions were shipped overseas in the first aid kits of soldiers fighting in World War 2. ** The company released its “No More Tears” Baby Shampoo in 1953, a brand that continue to line grocery store shelves to this day** In 1959, J&J bought McNeil Labs, the original maker of Tylenol
** J&J acquired Neutrogena in 1994 for nearly $1 billion. It has since then expanded its consumer health division, buying Pfizer’s healthcare unit in 2006 for $16.6 billion and adding brands like Listerine and Zantac. In 2016, it bought hair care products maker Vogue International for $3.3 billion.
Consumer health projected to make up about 16% of J&J’s 2021 sales https://graphics.reuters.com/JNJ-DIVESTITURE/gkplgdbnbvb/chart.png
** In 2018, a Reuters investigation found J&J knew for decades that asbestos, a known carcinogen, lurked in its Baby Powder and other cosmetic talc products. J&J maintains its consumer talc products are safe and asbestos-free. ** Last month, the company put into bankruptcy tens of thousands of legal claims alleging its Baby Powder and other talc-based products caused cancer, offloading the potential liabilities into a newly created subsidiary ** J&J’s consumer health division brought in about $10.98 billion in the nine months ended Oct. 3, making up about 16% of the company’s total sales for the period Source: Johnson & Johnson history blog https://www.kilmerhouse.com, Reuters stories
(Reporting by Manojna Maddipatla and Uday Sampath in Bengaluru; Editing by Arun Koyyur)
