Johnson & Johnson announced Wednesday that its new consumer health unit will be called Kenvue.
Kenvue is a combination of two concepts: “ken” meaning knowledge in Scotland and “vue” meaning sight in French. The consumer health unit pulled in $14.6 billion in revenue in 2021 — making up nearly 16% of the company’s overall revenue.
Kenvue will be spun off in 2023.
The company, which is separate from J&J’s pharma and medical device business, will house consumer brands including Band-Aid, Listerine, Tylenol and Neutrogena.
“We believe that daily self-care rituals add up over time and have a profound cumulative impact on your well-being,” Thibaut Mongon, CEO-designate of Kenvue, said in a statement. “This is the extraordinary power of everyday care. And our work is to put that power into the hands of consumers around the world.”
The J&J spinoff reflects a recent trend in the pharma industry where large companies have begun separating their consumer health units in order to focus them more on self-care, preventive health and well-being.
Earlier this year, GSK launched a separate consumer health company dubbed Haleon, which includes brands like Sensodyne and Voltaren.In its first earnings report since its split from GSK over the summer, Haleon recorded revenue growth of 13.4% in H1 2022.