Global healthcare giant Johnson & Johnson (J&J, NYSE: JNJ) has completed the separation of its consumer healthcare business, Kenvue (NYSE: KVUE), as an independent entity. The transaction involved the exchange of 191 million J&J shares for 1.5 billion shares of Kenvue, with J&J retaining a 9.5% stake in the newly independent company.
J&J CEO on the Split: Focus on Pharmaceutical and Medical Device Innovation
Joaquin Duato, CEO of Johnson & Johnson, has stated that the split will allow the company to concentrate on driving innovation in the pharmaceutical and medical device sectors. This strategic move is expected to enhance the company’s ability to deliver cutting-edge solutions in these critical areas of healthcare.
Kenvue’s IPO and Upcoming Inclusion in the S&P 500 Index
Following its initial public offering (IPO) on the New York Stock Exchange (NYSE) earlier this year, Kenvue is poised to be included in the S&P 500 index by S&P Dow Jones Indices. This inclusion reflects the market’s recognition of Kenvue’s significant position in the consumer healthcare market and its potential for growth and influence in the sector.-Fineline Info & Tech
