THE WHAT? Johnson & Johnson’s Consumer Health unit, Kenvue has been valued at US$40 billion as it prepares to list later this year. The manufacturer of Aveeno hopes to raise some US$3.5 billion via the IPO, according to a report published by CNBC quoting the Wall Street Journal.
THE DETAILS A spokesperson contacted by the Wall Street Journal declined to comment on the rumors but sources say the Neutrogena owner is preparing to meet with investors as early as Monday.
THE WHY? Johnson & Johnson announced its intention to separate Kenvue out towards the end of last year – part of its wider plan to distance its popular brands from the talc scandal.