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What’s the combined value of Tylenol, Neutrogena, Listerine, Band-Aid, Aveeno, Zyrtec—plus a few more of the biggest names in consumer health? On Monday afternoon,
Johnson & Johnson
which owns each of these brands, put a number on it: About $40 billion.
That valuation comes as
Johnson & Johnson
(ticker: JNJ) begins the long-awaited spinoff of its consumer health division under the name Kenvue. The first step is an initial public offering, which could take place in the coming week. Johnson & Johnson is pricing the IPO at between $20 and $23 per share, and expects to raise about $3.2 billion.
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