Johnson & Johnson Just Cut an Entire Division. Is It Still a Buy?
Johnson & Johnson (NYSE: JNJ) plans to cut or dramatically scale down its vaccine and infectious disease division. It won't be developing new medicines in the segment, and it's unclear whether it plans to continue making and selling its existing portfolio. The move comes roughly around the same time the company finalizes the spinoff of its consumer health division, called Kenvue.
Given these changes, some investors have reason to question the behemoth's growth prospects, as J&J can no longer expect to boost its revenue with new commercialized vaccines or through new personal care products.
Is the latest cut doomed to endanger its performance as an investment?
Source Fool.com
