![]() ![]() Shares of J&J were up more than 3% in premarket trading after the announcement. By separating it, the company can provide "even more agility" and "a better opportunity for capital allocation," he said. ![]() Gorsky said the consumer division has four brands alone that generate more than $1 billion in annual sales. Its yet-to-be-named consumer products company will also inherit litigation stemming from lawsuits over claims that its Johnson's Baby Powder causes cancer, allegations the company has vehemently denied. Those segments are expected to generate roughly $77 billion in revenue while the consumer products division is forecast to sell about $15 billion in products this year, the company said. Duato is taking over the role in January as previously planned.
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