J&J Files to Spin Off Its Consumer Health Business as Kenvue (1)

Johnson & Johnson submitted its plan to spin off its consumer health business in the first significant filing of the new year for a US initial public offering.

Kenvue Inc., as the company will be known, will include J&J brands such as Tylenol, Listerine, Neutrogena and Nicorette, according to its filing Wednesday with the US Securities and Exchange Commission. The proposed terms of the share sale will be disclosed in a later filing.

The filing follows the worst year for US IPOs since 2009 at the peak of the financial crisis. After a record $339 billion was raised in 2021, ...