Johnson & Johnson Spin-off

Johnson & Johnson Spin-off
Case Code: FINC201
Case Length: 12 Pages
Period: 1996- 2021
Pub Date: 2023
Teaching Note: Available
Price: Rs.200
Organization: Johnson Corporation’s (J&J)
Industry: Healthcare and Services
Countries: United States
Themes: M&A, Corporate Restructuring
Johnson & Johnson Spin-off
Abstract Case Intro 1 Case Intro 2 Excerpts


About J&J

In 1886, Robert Wood Johnson along with his brothers James Wood Johnson and Edward Mead Johnson founded a company in New Brunswick, New Jersey, US under the name of J&J..


J&J had shown an uneven growth trend over the last few years (2016-2020) (Refer to Exhibit III and Exhibit IV for Income Statement and Balance Sheet of J&J From 2016-2020)..

The Spin-Off Proposal

On November 12, 2021, J&J announced its intent to spin-off its consumer health business. It aimed to create two global leaders by offering better health products to patients and consumers through innovation and pursue strategies that would benefit various stakeholders of the company..

Steps Towards Spinoff

J&J formed a committee named ‘Company’s Executive Committee’ within one month of the release of the plan (by the end of December 2021). In December 2021, J&J announced the names of new members of the Executive committee..

Evaluation of Spin-Off

J&J followed the footsteps of its competitors, GSK, and Pfizer. Both companies were expected to spin-off their joint consumer health business in mid-2022. According to some analysts, the global consumer health sector was likely to get consolidated. In this sector..


Exhibit I: Timeline of J&J
Exhibit II: Division Wise Product Details of J&J
Exhibit III: Income Statement of J&J
Exhibit IV: Balance Sheet of J&J
Exhibit V: Segment wise Sales and EBT contribution of J&J (2016-2020)
Exhibit VI: J&J’ Quarterly Growth of Sales by Segment
Exhibit VII: Details about J&J’s Executive Committee

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