Cincinnati – Circa September 2021: General Electric Global Operations Center.
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Damien Conover, director of health-care equity strategy at Morningstar, said he found the news of Johnson & Johnson’s split surprising. The company, headquartered in New Brunswick, New Jersey, is famous for products like Band-Aids, Tylenol and baby powder.
“We don’t see any major catalyst for the move,” Conover said.
One hypothesis is that the company may be hoping to reduce the risk of litigation against its consumer business, after facing lawsuits over its impact on the opioid epidemic, as well as charges that the talc in its baby powder had led…