Johnson & Johnson consumer health unit valued at $40 billion ahead of IPO, report says
Publishing timestamp: 2023-04-24 10:37:46
Summary
J&J's consumer health business, valued at $40 billion, is set to spin off as Kenvue and aims to raise $3.5 billion or more in its initial public offering (IPO). Kenvue plans to meet with prospective investors this week and its stock would trade on the New York Stock Exchange under the ticker KVUE. J&J still faces thousands of allegations that its talc baby powder and other talc products caused cancer, but Kenvue will assume talc-related liabilities that arise outside the US and Canada, according to its IPO filing.
Sentiment: NEUTRAL
Tickers: JNJ,
Keywords: ipo, biotech and pharmaceuticals, health, business, spin-offs, health care industry, pharmaceuticals, breaking news, business news, markets, johnson & johnson,
Source: https://www.cnbc.com/2023/04/24/jj-consumer-health-unit-valued-at-40-billion-for-ipo.html