Company news: Healthrageous, J&J
The Asbury Park Press reports that yesterday's earnings call wasn't all about the numbers for Johnson & Johnson, and that the drug maker was once again asked if it would consider breaking the mega-corporation into independent businesses. The question was from Goldman Sachs' analyst Jami Rubin, reported the Asbury Park Press – the same analyst who wrote a 23-page note in May about just why the pharma giant should think small. CFO Dominic Caruso's response to Tuesday's query was the same response the company gave months ago: no way. “I could tell you we're not considering that now, and we feel very good about having a broad-based business in healthcare,” he said. The drug maker's third quarter showed at 7% lift in sales, compared to the same period last year, with the pharma business being major contributors to the topline results. Break-up proponent Rubin has argued that divvying up the company into independent businesses would free each unit to pursue its individual needs and priorities, instead of being limited by the needs of sister divisions.