Johnson & Johnson to Split Into Two Companies, Shares Rally

Johnson & Johnson has announced plans to split into two companies, spinning off its consumer health division—which sells products like Band-Aids, Baby Powder, and Listerine—into a separate publicly traded company.

The consumer health business has been provisionally dubbed the New Consumer Health Company, according to a Nov. 12 statement, while the new Johnson & Johnson company will focus on the medical devices and pharmaceuticals business, which sells its COVID-19 vaccine and other drugs.