Johnson & Johnson to split into 2, aim for faster growth

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

The company said Friday that the division selling prescription drugs and medical devices will keep the Johnson & Johnson name.

The new consumer health company will house brands including Neutrogena, Aveeno, Tylenol, Listerine, Johnson’s, and Band-Aid. Company leaders told analysts that the move will make each business more nimble in adapting to their respective markets.

It also allows for a more precise allocation of capital. Johnson & Johnson expects the split to occur in the next two years.

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