Johnson & Johnson will officially spin off its Consumer Health division in the first half of next year.

According to industry sources, Johnson & Johnson Korea’s Consumer Health division, which is in charge of cosmetics and the OTC drug business, will be spun off into a separate corporation in the first half of 2023. In line with the measures made by Johnson & Johnson’s global headquarters, the Korean subsidiary has also started the spin-off process.

For Johnson & Johnson in Korea, the spin-off would mean that the company will be operated as two separate corporations – Janssen Korea, which is in charge of J&J’s pharmaceutical business, and Johnson & Johnson Medical Korea.