Johnson & Johnson to split into two companies

At the same time, Johnson & Johnson was also under public and legal fire for its role in the opioid crisis. The company was a maker ...

At the same time, Johnson & Johnson was also under public and legal fire for its role in the opioid crisis. The company was a maker of potentially addictive opioid painkillers, a business it abandoned entirely in the United States last year. He faces lawsuits targeting billions of dollars, however courts in California and Oklahoma recently handed victories to Johnson & Johnson and other opioid makers.

Johnson & Johnson, like other medical companies, has overcome its share of reputation-threatening controversies. In a 1982 episode that became a classic example of how to handle a corporate crisis, the company had to scramble after someone falsified capsules of Tylenol Extra Strength, killing them with potassium cyanide and killing seven people. The company has regained public trust by swiftly removing Tylenol from US shelves and introducing new tamper-evident packaging.

Everywhere, the company has relied on the “halo effect” created by popular consumer products, nothing more than its Johnson’s Baby line of shampoos, lotions, moisturizers and powders for infants. Such products have slim profit margins, but have marked the public perception of Johnson & Johnson as a caring and gentle company.

“It gives us a wonderful image that most businesses would kill for”, Ralph S. Larsen, president of the company at the time, said Forbes in 2001.

But the commercial value of these brands has weakened over time. Even though consumers continue to call all plastic dressings dressings – the rare brand, like Kleenex and Xerox, whose name replaces a whole line of products – they have embraced cheaper generic competitors. The same is true for products like Tylenol.

Even a lingering affection for the company’s consumer products does little to advance Johnson & Johnson’s medical business, which is far more important to the company’s finances.

“Doctors and hospitals just want hips and knees, and drugs that work, at a low price. They don’t really think about bandages, ”said Les Funtleyder, a healthcare investor who has followed Johnson & Johnson for years as an analyst.

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Newsrust - US Top News: Johnson & Johnson to split into two companies
Johnson & Johnson to split into two companies
Newsrust - US Top News
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