J&J consumer health arm files for IPO, moves closer to spinoff

Johnson & Johnson filed an initial public offering with the U.S. Securities and Exchange Commission for its consumer health unit, Kenvue, moving closer toward a spinoff, Bloomberg reported Jan. 4.

Kenvue includes Johnson & Johnson brands Tylenol, Listerine, Neutrogena and Nicorette in its portfolio. The financial terms of the transaction were not disclosed; however, proceeds from the sale will go to Johnson & Johnson.

The company had a net income of $1.7 billion for the nine-month period ending Oct. 2. 

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