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Johnson & Johnson is splitting into two companies, separating the division that sells Band-Aids and Listerine from its medical device and prescription drug business.

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The company said Friday that the company that sells prescription drugs and medical devices will keep Johnson & Johnson as its name. That company will include treatments such as Darzalex, Erleada, Imbruvica, Stelara and Tremfya, as well as medical device solutions in interventional solutions, orthopedics, surgery and vision.

The new consumer health company will house brands including Neutrogena, Aveeno, Tylenol, Listerine, Johnson’s and Band-Aid. It is expected to generate revenue of about $15 billion for the year. A name for the new company was not disclosed.

FILE – In this photo illustration, the Johnson & Johnson logo is displayed on mobile phone and PC screens. (Photo Illustration by Pavlo Gonchar / SOPA Images / LightRocket via Getty Images)

“After a comprehensive review, the Board and management team believe that the planned separation of the consumer health business will create opportunities for our talented global team to accelerate our efforts to serve patients, consumers and healthcare professionals. , is the best way to drive profitable growth, and – most important – improve health care outcomes for people around the world,” CEO Alex Gorsky said in a statement.

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Details are sparse, but Johnson & Johnson expects to split over the next two years if approved by the company’s board.

The announcement came just days after General Electric said it was planning to split into three separate companies.

Shares of Johnson & Johnson were up more than 4% before the market opened.

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