J&J consumer health spinoff valued at $40B

Johnson & Johnson's consumer health spinoff, Kenvue, was valued at $40 billion ahead of its initial public offering, The Wall Street Journal reported April 23. 

People familiar with the business told the Journal that Kenvue plans to raise $3.5 billion and is meeting with potential investors on April 24. 

Kenvue — which makes brands including Band-Aid, Tylenol, Neutrogena and Listerine — generated $14.95 billion in global sales for Johnson & Johnson in 2022. 

The New Brunswick, N.J.-based drugmaker first announced the split into two independent companies in November 2021.

The Journal called the share sale the "biggest of what so far has been a quiet year for IPOs."

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars