{"id":1003380,"date":"2021-11-12T13:29:25","date_gmt":"2021-11-12T18:29:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1003380"},"modified":"2021-11-12T13:29:29","modified_gmt":"2021-11-12T18:29:29","slug":"johnson-johnson-to-break-up-into-two-companies","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/johnson-johnson-to-break-up-into-two-companies\/","title":{"rendered":"Johnson &#038; Johnson To Break Up Into Two Companies"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjohnson-johnson-to-break-up-into-two-companies%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1003380&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"p1\">Johnson &amp; Johnson is separating into two different companies, keeping its medical tools and prescription medication disconnected from its company that will sell everyday items such as Band-Aids, baby powder, and items like Listerine.&nbsp;<\/p>\n<p class=\"p1\">As <a href=\"https:\/\/www.wsj.com\/articles\/johnson-johnson-plans-to-split-into-two-public-companies-11636715700?mod=hp_lead_pos1\">reported<\/a> by The Wall Street Journal:&nbsp;<\/p>\n<p class=\"p1\">J&amp;J will shed its consumer division in 18 to 24 months, Chief Executive Alex Gorsky said. J&amp;J decided to make the change, he said, because the businesses, their customers and markets have diverged so much in recent years, including during the pandemic. Lawsuits that&nbsp;alleged use of Johnson\u2019s Baby Powder caused cancer&nbsp;didn\u2019t play a role, he said.<\/p>\n<p class=\"p1\">\u201cThe best path forward to ensure sustainable growth over the long term and better meet patient and consumer demands is to have our consumer business operate as a separate healthcare company,\u201d Gorsky told The Journal.<\/p>\n<p class=\"p1\">The new company hasn\u2019t been named yet, and details are still being worked out, but Gorsky \u201csaid J&amp;J planned to structure the transaction to be tax-free,\u201d per The Journal.&nbsp;<\/p>\n<p class=\"p1\">\u201cFollowing a comprehensive review, the board and management team believe that the planned separation of the consumer health business is the best way to accelerate our efforts to serve patients, consumers, and healthcare professionals, create opportunities for our talented global team, drive profitable growth, and \u2013 most importantly \u2013 improve healthcare outcomes for people around the world,\u201d Gorsky also said in a <a href=\"https:\/\/apnews.com\/article\/business-johnson-and-johnson-health-prescription-drugs-be49e5beca59dfcb3457be62f4cfa2e9\">statement<\/a>.<\/p>\n<p class=\"p1\">If the company is given the green light by the board, it anticipates the separation to take place in the coming two years.&nbsp;<\/p>\n<p class=\"p1\">Earlier this week, <a href=\"https:\/\/www.dailywire.com\/news\/oklahoma-supreme-court-reverses-johnson-johnson-opioid-decision\">Johnson &amp; Johnson was given a win<\/a> by the courts when the Oklahoma Supreme Court reversed a previous ruling against the drug company.&nbsp;<\/p>\n<p class=\"p1\">As&nbsp;<a href=\"https:\/\/thehill.com\/policy\/healthcare\/580817-oklahoma-supreme-court-overturns-historic-opioid-verdict-against-johnson\">reported<\/a>&nbsp;by The Hill, \u201cThe 5-1 decision reversed a district court\u2019s $465 million judgement against Johnson &amp; Johnson for its role in the state\u2019s opioid epidemic.\u201d&nbsp;<\/p>\n<p class=\"p1\">In 2019, the company was told to pay the large sum of money to essentially cover a year\u2019s worth of initiatives and treatment.<\/p>\n<p class=\"p1\">\u201cCleveland County Judge Thad Balkman found Johnson &amp; Johnson and its subsidiary Janssen Pharmaceuticals liable under Oklahoma\u2019s public nuisance statute for conducting \u2018false, misleading, and dangerous marketing campaigns\u2019 about prescription opioids that helped lead to thousands of overdose deaths,\u201d the outlet added.&nbsp;<\/p>\n<p class=\"p1\">Thousands of lawsuits have been filed by other states, local jurisdictions, and Native American tribes arguing that the pharmaceutical business participated in fueling the opioid epidemic.&nbsp;<\/p>\n<p class=\"p1\">The majority opinion by the Oklahoma Supreme Court this week <a href=\"https:\/\/www.wsj.com\/articles\/johnson-johnson-opioid-verdict-overturned-by-oklahoma-supreme-court-11636481699\">stated<\/a>, \u201cThe district court stepping into the shoes of the legislature by creating<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Johnson &#038; Johnson is separating into two different companies, keeping its medical tools and prescription medication disconnected from its company that will sell everyday items such as Band-Aids, baby powder, and items like Listerine.\u00a0As reported by The Wall Street Journal:\u00a0J&#038;J will shed its consumer division in 18 to 24 months, Chief Executive Alex Gorsky said. J&#038;J decided to make the change, he said, because the businesses, their customers and markets have diverged so much in recent years, including during the pandemic. Lawsuits that\u00a0alleged use of Johnson\u2019s Baby Powder caused cancer\u00a0didn\u2019t play a role, he said.\u201cThe best path forward to ensure sustainable growth over the long term and better meet patient and consumer demands is to have our consumer business operate as a separate healthcare company,\u201d Gorsky told The Journal.The new company hasn\u2019t been named yet, and details are still being worked out, but Gorsky \u201csaid J&#038;J planned to structure the transaction to be tax-free,\u201d per The Journal.\u00a0\u201cFollowing a comprehensive review, the board and management team believe that the planned separation of the consumer health business is the best way to accelerate our efforts to serve patients, consumers, and healthcare professionals, create opportunities for our talented global team, drive profitable growth, and \u2013 most importantly \u2013 improve healthcare outcomes for people around the world,\u201d Gorsky also said in a statement.If the company is given the green light by the board, it anticipates the separation to take place in the coming two years.\u00a0Earlier this week, Johnson &#038; Johnson was given a win by the courts when the Oklahoma Supreme Court reversed a previous ruling against the drug company.\u00a0As\u00a0reported\u00a0by The Hill, \u201cThe 5-1 decision reversed a district court\u2019s $465 million judgement against Johnson &#038; Johnson for its role in the state\u2019s opioid epidemic.\u201d\u00a0In 2019, the company was told to pay the large sum of money to essentially cover a year\u2019s worth of initiatives and treatment.\u201cCleveland County Judge Thad Balkman found Johnson &#038; Johnson and its subsidiary Janssen Pharmaceuticals liable under Oklahoma\u2019s public nuisance statute for conducting \u2018false, misleading, and dangerous marketing campaigns\u2019 about prescription opioids that helped lead to thousands of overdose deaths,\u201d the outlet added.\u00a0Thousands of lawsuits have been filed by other states, local jurisdictions, and Native American tribes arguing that the pharmaceutical business participated in fueling the opioid epidemic.\u00a0The majority opinion by the Oklahoma Supreme Court this week stated, \u201cThe district court stepping into the shoes of the legislature by creating and funding government programs designed to address social and health issues goes too far\u2026This Court defers the policy-making to the legislative and executive branches and rejects the unprecedented expansion of public nuisance law.\u201d\u00a0\u201cIn reaching this decision, we do not minimize the severity of the harm that thousands of Oklahoma citizens have suffered because of opioids. However grave the problem of opioid addiction is in Oklahoma, public nuisance law does not provide a remedy for this harm,\u201d Justice James Winchester\u00a0reportedly\u00a0wrote for the majority.\u201cA product manufacturer\u2019s responsibility is to put a lawful, non-defective product into the market. There is no common law tort duty to monitor how a consumer uses or misuses a product after it is sold,\u201d Winchester wrote.This week, General Electric said it would separate into three separate public companies, as well. The three entities will center on health care, energy, and aviation with the aviation portion keeping the title \u201cGeneral Electric\u201d in its name.\u00a0\u201cGE said it is spinning off GE Healthcare, which makes MRIs and other hospital equipment, in early 2023, with GE expecting to retain a stake of 19.9% that it plans to sell over time. In 2020, the unit had about $17 billion in revenue,\u201d The Journal reported earlier this week.\u00a0\u201cGE plans to combine its power unit and renewable energy unit, which make turbines for power plants and wind farms, respectively, and spin off that operation in early 2024. The company\u2019s remaining digital division will also be moved into the power business. Those units together had about $33 billion in revenue in 2020,\u201d the outlet added.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":95,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1003380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1003380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1003380"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1003380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1003380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1003380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1003380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}