I didn't realize at first that the spin-off would be the ones who retain the legal liability but I suppose it makes sense with it being split off from the original company (which makes more sense than if Tylenol was sold to a third party).
What stock? Paracetamol was first synthesised over 150 years ago; it is the most generic of generic drugs. It's also, well, not a big profit centre for anyone; it costs practically nothing.
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Hopefully people are watching to make sure none of them shorted the stock.
~I thought J&J already settled a big class-action lawsuit on that, didn't they?~
Edit: I was misremembering an ongoing lawsuit as having been resolved: https://www.nysd.uscourts.gov/MDL/22md3043
Apparently J&J spun off their consumer health products, including Tylenol to Kenvue in 2023.
I didn't realize at first that the spin-off would be the ones who retain the legal liability but I suppose it makes sense with it being split off from the original company (which makes more sense than if Tylenol was sold to a third party).
What stock? Paracetamol was first synthesised over 150 years ago; it is the most generic of generic drugs. It's also, well, not a big profit centre for anyone; it costs practically nothing.
Kenvue. J&J spun off their consumer products, including Tylenol, into Kenvue a couple years ago. It dropped 7.5% on the news to an all-time low.