Johnson & Johnson has announced plans to split into two companies, spinning off its consumer health division—which sells products like Band-Aids, Baby Powder, and Listerine—into a separate publicly traded company. The consumer health business has been provisionally dubbed the New Consumer Health Company, according to a Nov. 12 statement, while the new Johnson & Johnson company will focus on the medical devices and pharmaceuticals business, which sells its COVID-19 vaccine and other drugs. “The planned separation would create two global leaders that are better positioned to deliver improved health outcomes for patients and consumers through innovation, pursue more targeted business strategies and accelerate growth,” the company said. The New Consumer Health Company will have in its portfolio four $1 billion megabrands and 20 brands worth over $150 million, including such household names as Neutrogena, Aveeno, Tylenol, Listerine, and Band-Aid, the company said. For the full year 2021, Johnson & Johnson’s consumer health arm …