Kenvue, formerly Johnson & Johnson Consumer Health, debuts on NYSE with IPO

Kenvue Inc., formerly Johnson & Johnson Consumer Health, is starting new roles with its initial public offering (IPO) on the New York Stock Exchange.

Famous brands including Band-Aid. Baby products Neutrogena, Listerine and Johnson’s are now under Kenvue, but it’s unclear if those products will undergo a branding overhaul either.

Moving to a consumer health position under a different roof, cEven as J&J faces an estimated $9 billion settlement In a lawsuit, including baby talcum powder and its alleged link to cancer. Link denied health care professional.

Meanwhile, foreign media reports said Kenvue, which is said to be the world’s largest consumer health company by revenue, debuted on the New York Stock Exchange at $25.53, above its original offering price of $22 per share.

“As a global leader at the intersection of healthcare and FMCG, our carefully curated collection of popular, science-backed brands have been trusted by consumers and recommended by healthcare professionals for generations,” said Thibaut Mongon, CEO of Kenvue, in a statement. The company said before Thursday’s listing that J&J will own 91 percent of Kenvue, following the IPO.

J&J’s move to separate its consumer health business mirrors similar moves by GlaxoSmithKline and Pfizer, for example. Although J & J’s circumstances are very different.

Another J&J affiliate, LTL Management LLC (LTL – Dealing with Cancer Claims), has refiled for voluntary Chapter 11 bankruptcy protection to seek approval for a reorganization plan to resolve all claims arising from the talc lawsuit against the Company and its subsidiaries. her in North America. But media reports this week said the company had been ordered to engage in further settlement talks with those who oppose the current offer.

India expenditures

A roadmap for business division in India is not generally defined. Company officials did not provide details, citing US market regulations.

In September 2022, while announcing the international division of business, J&J said, Kenvue will become a leading global consumer health company in 2023, in accordance with legal requirements.

“The use of the new corporate logo and corporate brand identity will be effective upon completion of the planned separation,” the company said. The consumer health segment generated revenues of $14.6 billion in all of 2021. She added that after the separation, Kenvue will have sales in more than 100 countries.