J&J shelves plans for separate wellness unit: report
Johnson & Johnson has decided to drop plans for now to start a separate wellness and disease-prevention unit, its chief financial officer Dominic Caruso told the Wall Street Journal in an interview.
The segment “is really much more of a consumer-like business,” Caruso told the paper.
Caruso did not tell the paper whether the company still hopes wellness and disease-prevention will be a fourth business segment of the size it hoped before.
“We’ll see how big it grows,” Caruso told the paper make quick cash.
Johnson & Johnson said on Tuesday its quarterly earnings fell, hurt by generic competition for its Risperdal schizophrenia drug and the strong dollar, but lower costs enabled the company to beat Wall Street expectations.
(Reporting by Ajay Kamalakaran in Bangalore; Editing by Muralikumar Anantharaman)