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.
In the most recent quarter, ending March 31, IVAX showed net income of $16.4 million on sales of $128 million. She ousted her son, Eric, from leadership last year after he refused to share power with his sister, Joan M. Johnson. If you’ve read my writings over the years, you know that I have a soft spot for Johnson & Johnson. Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. But Johnson's stock soared about 25 percent this spring on rumors that the company might be sold. Company profile page for Johnson & Johnson including stock price, company news, press releases, executives, board members, and contact information Frost, a dermatologist, said the manufacturing of some Flori Roberts products would move to Johnson's Chicago plant. George Johnson could not be reached for comment. 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. In Johnson's last fiscal year, which ended on Aug. 31, total sales were $42 million. A Leader in Black Business, Johnson Products, to Be Sold. It’s been a year to forget for Johnson & Johnson (NYSE: JNJ).Two sets of legal issues have damaged the company’s image.
In Johnson's last fiscal year, which ended on Aug. 31, total sales were $42 million. 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. To preserve these articles as they originally appeared, The Times does not alter, edit or update them. 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. "This is a terrific deal for IVAX," said Ronald Nordmann, an analyst who follows the company for Paine Webber. 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. All of us in Johnson Products' management look forward to working with IVAX."
Sales continued to grow under his mother, who had been treasurer during the years her ex-husband ran the company.
TimesMachine is an exclusive benefit for home delivery and digital subscribers. But it has been rocked by feuds within the Johnson family. "It fits their strategy of trying to dominate niche businesses while growing the drug operations.". This is a digitized version of an article from The Times’s print archive, before the start of online publication in 1996.
The Complex History of Johnson & Johnson. "We will continue everything they are doing and raise the level of commitment to the black community," he said. 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. Mrs. Johnson said: "This transaction will benefit our stockholders, employees and community. Johnson's sales rode a roller coaster in the late 1970's and 1980's, bouncing between about $45 million and $29 million. It is almost impossible to walk into a … 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. Healthcare Breakthroughs Happen Here.
At the time, Joan B. Johnson, the chairman and chief executive, denied the rumors and said that the company was looking for acquisitions.
The Wisconsin-based Johnson family owns SC Johnson, the cleaning products giant best known for products such as Ziploc, Pledge and Glade. The deal could range in value from $61 million to $73 million depending on share prices of the two firms prior to the closing. 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. "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. More recently, sales have risen and the company has regained profitability. 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. S.C. Johnson & Son . It became the first black-owned company listed on the American Stock Exchange. See the article in its original context from. 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 company fell behind in product development and lost money in an effort to set up manufacturing in Nigeria. 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, … IVAX shares were unchanged at $25.25. Johnson netted $1.2 million on sales of $10.5 million in the quarter that ended Feb. 28. Family Struggles for Control. Eric Johnson did not return phone calls. Johnson and Johnson net worth: Johnson & Johnson is an American conglomerate that has a net worth of $360 billion. S.C. Johnson & Son is the crown jewel of the Johnson family fortune. IVAX, a Miami-based pharmaceutical company with chemical, skin care, medical diagnostics and veterinary businesses, has grown rapidly through acquisitions in recent years. He became the center of controversy in 1991 when he tried to organize a $20.6 million leveraged buyout. Dr. Johnson netted $1.2 million on sales of $10.5 million in the quarter that ended Feb. 28.
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