Kenvue’s IPO could boost a stagnant market for initial public offerings in the U.S. The slowdown has been particularly acute among drugmakers, who often account for a substantial share of new listings. Only five biotechs have priced IPOs so far this year, by far the slowest pace to begin any year since 2018, according to data from BioPharma Dive.
Kenvue, which sells brands like Tylenol, Listerine and Band-Aid, is a much larger and more profitable company than the typical company to seek an IPO, especially compared to the early-stage biotechs that typically seek to raise cash via an offering.
Net sales by the division totaled $15 billion in 2022, and just over $3.8 billion over the first three months of this year. Ten brands earned at least $400 million last year. Once a standalone company, Kenvue will employ roughly 22,000 staff across many of the world’s countries. READ MORE
by Ned Pagliarulo
Source: biopharmadive.com
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