Johnson & Johnson filed an initial public offering with the U.S. Securities and Exchange Commission for its consumer health unit, Kenvue, moving closer toward a spinoff, Bloomberg reported Jan. 4.
Kenvue includes Johnson & Johnson brands Tylenol, Listerine, Neutrogena and Nicorette in its portfolio. The financial terms of the transaction were not disclosed; however, proceeds from the sale will go to Johnson & Johnson.
The company had a net income of $1.7 billion for the nine-month period ending Oct. 2.