Johnson & Johnson called its consumer business Kenvue on Wednesday, going forward with plans to spin off the company in what would be the healthcare conglomerate’s greatest shake-up in its 135-year history.
The business has faced almost 40,000 claims alleging that its baby powder and other talc products contained asbestos, which was later linked to mesothelioma and ovarian cancer in women who used it for personal hygiene. In 2021, the company made $14.6 billion in revenue from Band-Aid bandages and Tylenol pharmaceuticals.
Kenvue is a mixture of “ken,” a Scottish English term meaning knowledge, and “vue,” a reference to sight. The new business logo and corporate brand identity will go into effect after the planned split is finalized, which Johnson & Johnson announced last year will be in November 2023.