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J&J to spin off consumer products and focus on drugs

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Reuters

By Manas Mishra and Michael Erman (Reuters) – Johnson & Johnson plans to spin off its consumer health division that sells Listerine and Baby Powder to focus on pharmaceuticals and medical devices in the biggest shake-up in the U.S. company’s 135-year history. The move by the world’s largest health products company follows similar announcements by conglomerates Toshiba and General Electric and underscores how big, diversified corporations are under pressure to simplify their structures. This has particularly been the case in healthcare, where the slow-and-steady business of selling products suc…

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