Johnson & Johnson plans to split into two separate firms

Johnson & Johnson is splitting into two companies to separate the division selling Band-Aids and Listerine from its medical device and prescription drug business.

New Delhi: 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 selling prescription drugs and medical devices will keep Johnson & Johnson as its name, the company said Friday.

The new consumer health company will house brands including Neutrogena, Aveeno, Tylenol, Listerine, Johnson's, and Band-Aid.

A name was not disclosed for the new company.

Details are sparse, but the company expect the split to occur in the next two years. Also Read: Rakesh Jhunjhunwala Portfolio: Big Bull bullish on THIS stock, should you invest?

The announcement comes just days after General Electric said that it plans to split into three separate companies. Also Read: Retail sales up 34% in October; jewellery, Apparel segments make recovery: Retailers Association of India