J&J's consumer health unit Kenvue files for IPO ahead of spin-off

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Jan 4 (Reuters) - Johnson & Johnson's (JNJ.N) consumer health unit on Wednesday filed with the U.S. securities regulator to be listed as an independent company, bringing the healthcare conglomerate a step closer to completing the biggest shake up in its 135-year history.

The business houses Band-Aid bandages and Tylenol medicines and generated revenues of $15.1 billion in net sales in 2021, up from $14.5 billion in 2020, according to the S-1 filing.

Kenvue said it will apply to list its shares on the New York Stock Exchange under the ticker symbol "KVUE".

The unit has faced nearly 40,000 lawsuits alleging its baby powder and other talc products contained asbestos later linked to mesothelioma and ovarian cancer in women who used it for personal hygiene, which J&J has denied.

J&J will continue to own at least 80.1% of the voting power of Kenvue's shares, the unit said in its filing.

Goldman Sachs & Co. LLC and J.P. Morgan are the underwriters for the offering.

Reporting by Bhanvi Satija in Bengaluru; Editing by Shailesh Kuber

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