J&J’s Spinoff Kenvue Valued at $40 Billion. What’s Ahead for Consumer Health.

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.