Johnson & Johnson will split into two separate entities over the next 24 months, spinning off its consumer products division, with 65% of the remaining namesake company focused on its pharmaceutical business and 35% dedicated to its medical device operations, according to J&J Vice Chairman Joaquin Duato. "The new Johnson & Johnson will remain the world's largest, most diverse healthcare company and will continue to lead in global R&D and innovation," Duato said.