Why Johnson & Johnson Stock Rose Today
Shares of Johnson & Johnson (NYSE: JNJ) rose 1.2% on Friday after the healthcare colossus announced its intention to split itself into two independent companies.
J&J plans to separate its consumer health operations from its medical device and pharmaceutical divisions. The transaction is expected to be completed within the next two years, pending board and regulatory approval.
The plan would create a new consumer health company with a formidable presence in areas such as baby care, wound care, and oral health. It would possess a stable of popular brands, including Johnson and Johnson's Aveeno, Neutrogena, Band-Aid, Tylenol, and Listerine, that are collectively forecast to generate revenue of roughly $15 billion in 2021.
Source Fool.com
