Johnson & Johnson plans to spin off its orthopedics business into a new company named DePuy Synthes within the next 18 to 24 months. The move follows a 2023 restructuring program and aims to focus on high-growth areas like oncology and immunology. The company also raised its 2025 sales forecast to $93.5 billion to $93.9 billion. Quarterly earnings beat expectations, with sales of $23.99 billion and adjusted earnings of $2.80 per share. Pharmaceutical sales rose 6.8%, driven by oncology products like Darzalex. Medical device sales also increased, led by electrophysiology products. CEO Joaquin Duato declined to comment on potential acquisition talks with Protagonist Therapeutics.

Read more at Yahoo Finance: J&J to spin off orthopedics business, raises full-year forecast