J&J reorganizes, sets new growth strategy

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BOSTON, Nov. 15 (Reuters) Johnson&Johnson said on Thursday it has reorganized to focus on opportunities outside its traditional areas of interest, such as surgical care.

In addition, the drugmaker said Joseph Scodari, worldwide chairman, pharmaceuticals, will retire in early 2008. Christine Poon will assume responsibility for the company's pharmaceutical and biological businesses.

J&J said its consumer businesses are not directly affected by the changes and said the integration of the Pfizer Inc healthcare business continues to track ahead of the original acquisition plan.

The company said it has created a new Office of Strategy and Growth, which will identify opportunities for future growth that are distinct from the company's existing pharmaceuticals, medical device and consumer healthcare businesses. It will be led by Nicholas Valeriani, currently worldwide chairman, medical devices and diagnostics.

A new Surgical Care Group will focus on technologies and services to enhance patient care in the surgical setting. It will be led by Sherilyn McCoy, who will also become a member of J&J's executive committee.

A Comprehensive Care Group will address chronic diseases and disorders such as diabetes. It will be led by Donald Casey, currently group chairman for the diabetes franchise.

Each of the new organizations and appointments become effective on January 1, 2008.

REUTERS SLD VC2006

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