Johnson & Johnson's consumer health unit Kenvue on Wednesday filed to be listed as an independent company, bringing the healthcare conglomerate a step closer to completing the biggest shakeup in its 135-year history.
The logo for the New York Stock Exchange is displayed on the trading floor in New York City, U.S., November 20, 2018. REUTERS/Brendan McDermidconsumer health unit Kenvue on Wednesday filed to be listed as an independent company, bringing the healthcare conglomerate a step closer to completing the biggest shakeup in its 135-year history.
The business behind Band-Aid bandages and Tylenol medicines generated net sales of $15.1 billion in 2021, up from $14.5 billion in 2020, according to its filing with the U.S. Securities and Exchange Commission . The filing, for Kenvue to list on the New York Stock Exchange under the ticker symbol "KVUE", comes more than a year after Johnson & Johnson announced its plan to break up into two companies.
J&J's pharmaceutical and medical equipment units, which make cancer treatments and surgical tools, had recorded nearly $80 billion in sales in 2021, far ahead of its consumer products revenues.alleging that its baby powder and other talc products contained asbestos later linked to mesothelioma and ovarian cancer in women who used it for personal hygiene. J&J has denied the claims.
J&J's decision to split up reflected how big, diversified corporations have been under pressure to simplify their structures to increase focus, especially in healthcare. Rival GlaxoSmithKline
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