Branding For J&J’s Kenvue Cements Consumer Division Separation
In advance of spinning off its consumer division in 2023, Johnson & Johnson has announced the new standalone company will be called Kenvue.
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“We made significant progress towards the separation of Kenvue,” says CEO Jaoquin Duoto. But fourth-quarter and full-year progress on consumer sales growth was impeded by loss to foreign currency exchange.
Demand for OTC pain relievers and cough/cold products jumped prior to October-December and remained high during quarter due to consumer concern not only about flu but also RSV and additional COVID-19 mutation. US and Canadian firms marketing OTC drugs and supplements also will be offering additional signals on planned spinoffs of consumer health businesses.
Greater flexibility, a higher tolerance to risk, longer investment time-lines and access to a wider pool of next generation talent are some of the benefits to consumer health businesses when separating from their pharma parents, according to IQVIA Consumer Health.