Will Johnson & Johnson’s Split Pay Off? History Says No.

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Investors’ excitement over a breakup of Johnson & Johnson was somewhat muted on Friday, as eagerness to split a conglomerate ran into the disappointing recent record of Big Pharma spinoffs.

Johnson & Johnson (ticker: JNJ) said it would separate its consumer health division into a new company, leaving behind a pharmaceutical and medical-device business that it said would still be the largest healthcare company in the world.


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