J&J stays true to its diversified model

After a period when break-ups and divestments were in vogue in the pharmaceutical industry, Johnson & Johnson’s long-standing healthcare conglomerate model has come back into fashion.

However, the group’s diversified operations have not shielded it from the pain of many of its peers. Last week it unveiled job cuts for up to 7 per cent of its staff worldwide, or more than 8,000 employees.