Johnson & Johnson to spin off consumer segment

Recently, General Electric (NYSE:GE), Zimmer Biomet (NYSE: ZBH) and Toshiba (TYO:6502) announced their plans to slim down by spinning out core businesses. Now, Johnson & Johnson (NYSE:JNJ) is following a similar approach by making its consumer health business a standalone company.

J&J will retain its pharmaceutical and medical device segments.

The company said in an announcement that it made the decision to boost operational performance and strategic flexibility.

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