(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.
Here is how J&J got to where it is today.
1886
Robert Wood Johnson partners with brothers James Wood Johnson and Edward Mead Johnson to found Johnson & Johnson in 1886. It originally focused on ready-to-use sterile surgical dressings.
1894
J&J begins producing Johnson’s Baby Powder.
1918
In response to a global flu pandemic, J&J begins selling a mask designed to limit the spread of the airborne viral illness.
1920
J&J invents Band-Aid and begins marketing it in 1921.
1944
J&J completes its initial public offering and becomes a publicly traded company. It had annual sales of around $95 million at the time, compared to more than $80 billion in 2020.
1959
J&J acquires Tylenol maker McNeil Laboratories.
1961
J&J acquires Janssen Pharmaceuticals, which now makes ADHD drug Concerta and J&J’s COVID-19 vaccine.
1997
The first lawsuit alleging that J&J’s Baby Powder contains cancer-causing asbestos is filed against J&J. Since then, J&J has faced thousands of lawsuits and billions of liabilities and has ceased distributing Baby Powder in the United States and Canada.
1999
J&J acquires Centocor Biotech Inc, maker of Remicade for Crohn’s disease, and renames it Janssen Biotech.
2012
Johnson and Johnson acquires orthopedic device maker Synthes for nearly $20 billion to expand its medical product offerings.
2017
J&J acquires Actelion for $30 billion, adding heart disease medicines such as Tracleer to its portfolio.
2020
J&J begins developing a COVID-19 vaccine. It received authorization to begin administering its COVID-19 shot the following year.
Sources:
www.jnj.com
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