United Brands Limited (UBDL) has announced to discontinue Johnson & Johnson products from their business portfolio.
According to the notification to the PSX, United Brands informed that businesses under the Johnson & Johnson brand have been discontinued from their business portfolio which shall result in a monthly loss of revenue of approximately Rs.70 million.
No other reason was mentioned regarding this.
It is pertinent to mention that back in April 2019, the company had decided to discontinue the distribution of Mars, Wrigley’s, Haleeb Foods, Unilever, Heinz and IFFCO from their business portfolio.
United Brands Limited is engaged in the distribution of fast-moving consumer goods and allied products. The portfolio includes baby range, chocolates, confectioneries, flavored milk, dairy products, sweetener, beverages, cereals, deodorants, cosmetics and other similar products.