Johnson & Johnson’s Planned Separation of its Consumer Health Business

On November 12, 2021, Johnson & Johnson announced its intent to separate its Consumer Health business, creating a new publicly traded company. Following the planned separation, Johnson & Johnson would remain the world’s largest and most diverse healthcare company, with a portfolio that blends its Pharmaceutical and Medical Device capabilities. The New Consumer Health Company would be a leading global consumer health company with iconic brands such as Neutrogena, AVEENO®, Tylenol®, Listerine®, JOHNSON’s®, and BAND‑AID®. Cravath is representing Johnson & Johnson in connection with the planned transaction.

The Cravath team is led by partners Robert I. Townsend III and George F. Schoen and includes associates Rachel L. Schlobohm and Paul A. Bryant on M&A matters; partner Michael E. Mariani and associate Alexander E. Greenberg on capital markets matters; partner J. Leonard Teti II and associates Andrew T. Davis and Alissa B. Fromkin on tax matters; partners Jonathan J. Katz and Matthew J. Bobby and associate Brendon J. Rivard on executive compensation and benefits matters; and partner David J. Kappos on intellectual property matters. Joanne Dynak also worked on M&A matters and Michael Pelle also worked on tax matters.