Daily Management Review

New Johnson & Johnson division valued at $40 billion ahead of IPO


Before going public on the New York Stock Exchange, Johnson & Johnson, a part of Johnson & Johnson that will concentrate on producing consumer health products, was valued at $ 40 billion, according to WSJ.

Anton Diaz
Anton Diaz
Johnson & Johnson's consumer healthcare goods segment has a $40 billion market worth, according to The Wall Street Journal, which cited insiders. J&J declined to provide the newspaper with any other information.

The J&J division will be spun off into a different business under the name Kenvue Inc. It will manufacture over-the-counter medicines and care items like Johnson's Baby shampoo, Band-Aid patches, and antipyretic Tylenol. According to the WSJ, the division's revenue in 2022 was $14.95 billion, or around 15.7% of all J&J sales.

The New York Stock Exchange will list Kenvue's stock under the symbol KVUE. The company wants to raise at least $3.5 billion in the IPO, according to WSJ sources. The publication says that this offering will be the biggest since the year's commencement, which has seen few initial public offerings. Meetings with potential investors will start this week, according to WSJ sources.

source: wsj.com