Earlier quoted context omitted.
At least with Hollywood accounting, the subsidiary is usually created up front. This reads like J&J created the subsidiary after the fact, which IMO, shouldn’t be allowed.
It's also not uncommon to purchase an existing company, move debt over to it, and then kill it off. Late stage capitalism is an interesting phenomenon.
https://www.politico.com/magazine/story/2014/06/the-pitchfor...