J&J Limited On Offering Consumer Business Separation Details, Clear On Q4 Revenue Drag
“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.
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Roadshow stated for IPO planned for before end of 2023 of 151.2m shares of Kenvue common stock currently expected at between $20 and $23 per share. Analysts positive on IPO but caution launch wouldn’t come problem-free.
An end to US COVID-19 PHE on 10 April doesn’t end inflationary pressure on prices for consumer packaged goods. OTC, supplements and personal care product firms could be reporting consumers during Q1 were going along with price increases, opting for less expensive options or buying less.
The J&J company holding the firm’s liabilities relating to talc litigation, which declared bankruptcy in 2021 shortly after its formation, had its Chapter 11 petition denied by the Third Circuit on 30 January. Attorneys weigh in on the implications for J&J and wider industry.