Johnson & Johnson named its consumer business Kenvue on Wednesday, moving ahead with the company’s shake-up.
The conglomerate’s unit has faced thousands of lawsuits alleging talc products contained asbestos and were linked to mesothelioma and ovarian cancer in women.
The New Jersey based company has denied any allegations.
“Today’s announcement is another milestone for the consumer health business. Kenvue is poised to thrive as a standalone company with a leading portfolio of brands consumers love and trust. I’m confident in this team and excited to see what the future holds,” Johnson & Johnson CEO Joaquin Duato said.
The business owns Band-Aid, Tylenol, Listerine and Neutrogena among other brands and generated revenue of $14.6 billion in 2021.
The spin-off will be the biggest shake-up in the healthcare conglomerate’s 135-year history.
Kenvue (pronounced ken·view), is a combination of “ken” and English word meaning knowledge, and “vue,” referencing sight. According to the company Kenvue “will deliver meaningful, personal health solutions”.
Usage of the new company logo and corporate brand identity will be effective upon completion of the planned separation, which Johnson & Johnson last year said will be completed by November 2023.
