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Shares of Johnson & Johnson jumped in premarket trading after the healthcare giant announced that it its splitting itself into two publicly traded companies.
The new companies will be one focused on consumer products, such as Band-Aid bandages and baby powder, and another focused on prescription drugs and medical devices.
Shares of Johnson & Johnson were up 4% in premarket trading after the announcement. JNJ did not immediately respond to a request for comment from CNBC.com.
The news was first reported by the Wall Street Journal.
The announcement is the second time this week that a major U.S. company has announced a plan to split itself, following
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