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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)
PFE 25.08-2.7%Nov 14 9:30 AM EST
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To: Anthony Wong who wrote (1496)3/6/1999 10:58:00 PM
From: Anthony Wong  Read Replies (1) of 1722
 
Johnson & Johnson Breakup Sought by Some Analysts, WSJ Says

Bloomberg News
March 5, 1999, 7:40 a.m. ET

New Brunswick, New Jersey, March 5 (Bloomberg) -- Johnson &
Johnson, the maker of Tylenol and Band-Aids, should break itself
up into separate companies to boost share price, spinning off or
selling its consumer-products line, the Wall Street Journal said,
citing analysts. ''I am convinced that the future belongs to
companies that are broadly based,'' Chief Executive Ralph Larsen
said, although share prices of Johnson & Johnson rivals Pfizer
Inc., Warner Lambert Co., Eli Lilly & Co. and Schering Plough
Corp. more than doubled since early 1997 as Johnson & Johnson
shares rose about 50 percent. Paine Webber Inc. analyst David
Lothson said J&J ''should be three companies'' by splitting up
its main divisions into separate companies, the Journal reported.

Johnson & Johnson, one of the world's largest makers of
medical products, said its fourth-quarter profit increased 10
percent on rising drug sales and its $3.5 billion acquisition of
orthopedics maker DePuy Inc.

(WSJ 3/5 B1 wsj.com)

--Jonathan Make in the Princeton newsroom (609) 279-4065/vpw
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