Johnson & Johnson

Johnson & Johnson is a multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Headquartered in New Brunswick, New Jersey, it is one of the world's most valuable companies and a component of the Dow Jones Industrial Average. The company is organized into three primary segments: Medical Devices, Pharmaceuticals, and Consumer Health.

History

The company was founded in 1886 in New Brunswick, New Jersey by brothers Robert Wood Johnson I, James Wood Johnson, and Edward Mead Johnson. It initially produced ready-to-use surgical dressings, guided by the principles in Robert Wood Johnson I's "Credo". A pivotal early product was Johnson's Baby Powder, introduced in 1894. Major growth came through strategic acquisitions, such as McNeil Laboratories in 1959, which brought Tylenol, and Janssen Pharmaceutica in 1961. The company navigated a significant crisis in 1982 with the Chicago Tylenol murders, which led to the industry-wide adoption of tamper-evident packaging. In 2023, it completed the spin-off of its Consumer Health business into a separate publicly traded company named Kenvue.

Products and operations

The corporation operates through three main business segments. Its Medical Devices division, one of the world's largest, includes products for orthopedics, surgery, and vision care under brands like DePuy Synthes and Ethicon. The innovative Pharmaceutical segment focuses on therapeutic areas including immunology, oncology, neuroscience, and cardiovascular disease, marketing treatments such as Stelara and Darzalex. The now-independent Consumer Health business, operating as Kenvue, manages a vast portfolio of iconic brands including Band-Aid, Listerine, Neutrogena, and Johnson's Baby products. The company maintains a vast global supply chain with research facilities and manufacturing plants worldwide.

Corporate affairs

Governed by a board of directors, the company's leadership has included notable figures such as former CEO Alex Gorsky and current CEO Joaquin Duato. Its famous Credo, written by Robert Wood Johnson II in 1943, outlines a philosophy of responsibility to customers, employees, communities, and stockholders. Financially, it is a perennial member of the Fortune 500 and has paid a consecutive quarterly dividend since 1944, earning it designation as a Dividend King. Major operational sites include its global headquarters in New Brunswick, New Jersey and significant research campuses like the Janssen Pharmaceutica facilities in Beerse, Belgium.

Legal issues and controversies

The company has faced extensive litigation and regulatory scrutiny. A major ongoing issue involves thousands of lawsuits alleging its talcum powder products caused ovarian cancer and mesothelioma, leading to a proposed settlement through a Chapter 11 bankruptcy filing of a subsidiary. It has also faced massive litigation and multibillion-dollar settlements related to its role in the opioid epidemic and allegations of marketing practices for antipsychotic drugs like Risperdal. Other significant legal challenges include lawsuits over its transvaginal mesh devices and a 2013 guilty plea to misbranding the antipsychotic Invega.

Philanthropy and social responsibility

Philanthropic efforts are channeled primarily through the Johnson & Johnson Foundation and the Johnson & Johnson Center for Health Worker Innovation. The company is a long-standing partner with organizations like the UNICEF and the WHO, often focusing on global health initiatives such as the fight against HIV/AIDS, tuberculosis, and malaria. It has committed to ambitious ESG goals, including carbon neutrality and expanding access to medicine. The company also runs programs like the Johnson & Johnson Nurses Innovation Fellowship to support the nursing profession and has provided significant disaster relief funding following events like the 2010 Haiti earthquake and the COVID-19 pandemic.

Category:Companies listed on the New York Stock Exchange Category:Pharmaceutical companies of the United States Category:Medical equipment companies of the United States Category:Companies based in New Jersey Category:1886 establishments in New Jersey