J&J’s Skin-Care Biz During COVID Is ‘Tale of Two Cities’
Johnson & Johnson skin health includes hard-hit products and products that have seen double-digit sales growth during the pandemic, worldwide chairman of Consumer Health Thibaut Mongon said at the Barclays Global Consumer Staples Conference. He went on to highlight launches that are reinforcing J&J’s lead in therapeutic skin care and reflecting its sustainability push.
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Johnson & Johnson US OTC sales a bright spot in a Q2 performance hampered by the COVID-19 pandemic.
J&J is prioritizing Tylenol production on caplets easiest to manufacture to maximize output as it manufactures the line around the clock, says CEO Alex Gorsky. First-quarter US OTC sales soared 35% as consumers stockpiled due to COVID-19, though the pandemic led J&J to downgrade its 2020 outlook.
J&J plans to cut 10% of its consumer health portfolio, with most divestitures in the baby and beauty care segments outside the US. It plans to focus on growing “stronghold” categories of skin health and self care, including Aveeno and Tylenol.