Johnson & Johnson to spin off the orthopaedics business.

Johnson & Johnson, a pharmaceutical, biotechnology, and medical technologies corporation, agreed to spin off the orthopaedics business. Financial terms were not disclosed. “This transaction enables Johnson & Johnson to further strengthen its focus and investment toward higher-growth areas where we can meaningfully extend and improve patient lives. The planned separation reflects our long-standing commitment to portfolio optimization and value creation. We are confident that our Orthopaedics business will be better positioned to improve top-line growth and operating margins as a standalone business,” said Joaquin Duato, Johnson & Johnson Chairman and CEO.