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Johnson & Johnson is narrowing its focus again, nearly four
years after peeling off its consumer health business.
The health care giant said Tuesday that it will separate its
orthopedics business into a standalone company known as DePuy
Synthes. The move leaves J&J focused on its pharmaceutical and
MedTech segments, which make prescription drugs, contact lenses
and technology to treat cardiovascular disease and help with
surgeries.
The orthopedics business will be led by Namal Nawana, a former
CEO of the medical technology business Smith & Nephew, which
makes products for sports medicine and wound management and also
focuses on orthopedics.
J&J’s orthopedics business pulled in more than $9 billion in
sales last year. But the company said the split will help it
focus on higher-growth areas.
The company expects to complete the move over the next 18 to 24
months.
J&J announced in November, 2021, that it would turn its consumer
health business, which makes Band-Aids, Listerine and Tylenol
into a separate company that later became known as Kenvue.
New Brunswick, New Jersey-based Johnson & Johnson also reported
on Tuesday better-than-expected third-quarter earnings and
reaffirmed its adjusted earnings guidance for the year.
Company shares slipped more than $2 to $188.74 in premarket
trading. The shares have already climbed more than 30% so far
this year.
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