Johnson & Johnson
JNJ,
unveiled Wednesday the name for its New Consumer Health Company that is being spun off: Kenvue. The name, pronounced ken-view, comes from the English word “ken,” which is primarily used on Scotland and means knowledge, and “vue,” which references sight. Kenvue, which will become a standalone company in 2023, will include in its portfolio brands such as Band-Aid, Aveeno, Listerine, Tylenol and Neutrogena. The business generated $14.6 billion in revenue in 2021, or 15.6% of total revenue. J&J’s stock, which gained 0.1% in premarket trading, has slipped 3.6% year to date through Tuesday, while the SPDR Health Care Select Sector ETF
XLV,
has declined 14.0% and the Dow Jones Industrial Average
DJIA,
has lost 19.8%.
