Johnson & Johnson has named its consumer business Kenvue on Wednesday, moving ahead with its plans to spin-off the unit in what would be the biggest shake-up in the healthcare conglomerate's 135-year history.
The unit has faced nearly 40,000 lawsuits alleging its baby powder and other talc products contained asbestos later linked to mesothelioma and ovarian cancer in women who used it for personal hygiene, which the company has denied.
On 12 August, the company said that it will stop selling talc-based baby powder globally in 2023.
The business also houses Band-Aid bandages and Tylenol medicines and generated revenue of $14.6 billion in 2021.
'Ken' & 'Vue'
Kenvue is a combination of 'ken', an English word for knowledge primarily used in Scotland, and 'vue' a reference to sight.
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.
On 12 November 2021, Johnson & Johnson announced its plans to split into two companies, separating its consumer health division that sells Band-Aids and Baby Powder from its pharmaceuticals and medical devices business in the biggest shake-up in its 135-year history.
"The new Johnson & Johnson and the new consumer health company would each be able to more effectively allocate resources to deliver for patients and consumers, drive growth and unlock significant value," said Joaquin Duato, of J&J.
News by Reuters additional reporting and edited by Donna Ahern, Checkout. For more a-brands stories click here. Click subscribe to sign up for the Checkout print edition.