Johnson & Johnson plans to sell its 9.5% stake in consumer health company Kenvue for $3.75 billion.
Johnson & Johnson (J&J) plans to sell its 9.5% stake in consumer health company Kenvue, which it spun off and listed last year, for an estimated $3.75 billion. The decision comes after Kenvue's shares experienced a 4% drop in premarket trading. This move is part of J&J's focus on pharmaceutical and medical device businesses. Kenvue's shares have declined 4.6% this year and 8% from its listing price in May 2021.
May 13, 2024
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