who currently owns johnson and johnson

George Johnson could not be reached for comment. In Johnson's last fiscal year, which ended on Aug. 31, total sales were $42 million. Frost also said he and the Johnsons had discussed the political implications of IVAX acquiring one of the nation's leading symbols of black enterprise. But Johnson's position eroded as larger companies like Revlon Inc. and Avon Products and upstarts like Soft Sheen Products Inc. attacked the market, now estimated at $1.5 billion. Family Struggles for Control. It’s been a year to forget for Johnson & Johnson (NYSE: JNJ).Two sets of legal issues have damaged the company’s image. S.C. Johnson & Son is the crown jewel of the Johnson family fortune. It became the first black-owned company listed on the American Stock Exchange. If you’ve read my writings over the years, you know that I have a soft spot for Johnson & Johnson. At Johnson & Johnson, we use technology and the power of collaboration to fight back against the most devastating healthcare challenges of our generation, from combating cancer with CAR-t cell therapy to teaming up with Apple to study AFib.Johnson & Johnson became a household name thanks to surgical dressings and baby products and now, 130 years later, … In Johnson's last fiscal year, which ended on Aug. 31, total sales were $42 million. But Johnson's stock soared about 25 percent this spring on rumors that the company might be sold. She ousted her son, Eric, from leadership last year after he refused to share power with his sister, Joan M. Johnson. "It fits their strategy of trying to dominate niche businesses while growing the drug operations.". Healthcare Breakthroughs Happen Here. The company fell behind in product development and lost money in an effort to set up manufacturing in Nigeria. The deal could range in value from $61 million to $73 million depending on share prices of the two firms prior to the closing. This is a digitized version of an article from The Times’s print archive, before the start of online publication in 1996. But it has been rocked by feuds within the Johnson family. All of us in Johnson Products' management look forward to working with IVAX." The two companies said Johnson would continue to operate as an independent subsidiary and Mrs. Johnson, who is 64, would lead it with the title of president. The Johnson Products Company, whose portfolio of grooming and cosmetic products for minority consumers has made it one of the nation's largest black-owned businesses, will be acquired in a stock swap with the IVAX Corporation, the two companies announced today. It is almost impossible to walk into a … Johnson's sales rode a roller coaster in the late 1970's and 1980's, bouncing between about $45 million and $29 million. Dr. At the time, Joan B. Johnson, the chairman and chief executive, denied the rumors and said that the company was looking for acquisitions. A Leader in Black Business, Johnson Products, to Be Sold. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Dr. Eric Johnson, who then became head of a private ice cream company here, was widely credited with setting the company back on the road to prosperity during his tenure. He became the center of controversy in 1991 when he tried to organize a $20.6 million leveraged buyout. To preserve these articles as they originally appeared, The Times does not alter, edit or update them. See the article in its original context from. Johnson netted $1.2 million on sales of $10.5 million in the quarter that ended Feb. 28. In trading today on the American Stock Exchange, Johnson shares soared $5.625, to $24.625, a new 52-week high. It employs 13,000 people and sales are estimated at $10.5 billion annually. The Wisconsin-based Johnson family owns SC Johnson, the cleaning products giant best known for products such as Ziploc, Pledge and Glade. The Complex History of Johnson & Johnson. The founder, S.C. Johnson, for … "It's been a resilient little company that taught a lot of us how to be entrepreneurs," said Lafayette Jones, president and chief executive of Segmented Marketing Services Inc., a marketing firm based in Winston-Salem, N.C. "It'll be missed," added Mr. Jones, who was the vice president of marketing and sales at Johnson from 1979 to 1981. Sales continued to grow under his mother, who had been treasurer during the years her ex-husband ran the company. IVAX shares were unchanged at $25.25. "This is a terrific deal for IVAX," said Ronald Nordmann, an analyst who follows the company for Paine Webber. Frost, a dermatologist, said the manufacturing of some Flori Roberts products would move to Johnson's Chicago plant. "We will continue everything they are doing and raise the level of commitment to the black community," he said. S.C. Johnson & Son . IVAX, a Miami-based pharmaceutical company with chemical, skin care, medical diagnostics and veterinary businesses, has grown rapidly through acquisitions in recent years. Mrs. Johnson said: "This transaction will benefit our stockholders, employees and community. Company profile page for Johnson & Johnson including stock price, company news, press releases, executives, board members, and contact information Johnson netted $1.2 million on sales of $10.5 million in the quarter that ended Feb. 28. Johnson, based in Chicago, dominated the market for personal care products for blacks during the 1960's and 1970's with Ultra Sheen and Gentle Treatment hair care products and related lines. "It is an excellent fit with Flori Roberts Inc., our cosmetics and skin care subsidiary, which also focuses parts of its business on African-American consumers, and with Baker Cummins Dermatologicals, our dermatological and skin care company, which markets an established line of medicated shampoos, conditioners, and other skin care products," said Dr. Phillip Frost, the chairman and chief executive of IVAX. In the most recent quarter, ending March 31, IVAX showed net income of $16.4 million on sales of $128 million. Eric Johnson did not return phone calls. More recently, sales have risen and the company has regained profitability. Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. What many investors don’t realize is that Johnson & Johnson proper doesn’t actually do anything in the sense that most people think it does. Johnson and Johnson net worth: Johnson & Johnson is an American conglomerate that has a net worth of $360 billion. Mrs. Johnson controls more than half of Johnson's shares as a result of a 1989 divorce settlement with George E. Johnson, who had run the company from its founding in 1954 until the marital split.

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