Johnson & Johnson plans to split into two companies

Johnson & Johnson is splitting into two companies, separating the division that sells Band-Aids and Listerine, from its medical device and prescription drug business.

The company selling prescription drugs and medical devices will keep Johnson & Johnson as its name, the company said Friday.

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The new consumer health company will house brands including Neutrogena, Aveeno, Tylenol, Listerine, Johnson's, and Band-Aid.

A name was not disclosed for the new company.

Details are sparse, but the company expect the split to occur in the next two years.

The announcement comes just days after General Electric said that it plans to split into three separate companies.