NEW YORK, Sept. 23, 2025— Johnson & Johnson (J&J) weathered political headwinds better than its consumer spin-off Kenvue after former U.S. President Donald Trump publicly criticized Tylenol, one of America’s most recognized pain relief brands.
The comments, made during a campaign event earlier this week, cast doubt on the safety and regulation of over-the-counter medications like Tylenol. Trump suggested “big pharma has too much influence over everyday medicines” and vowed to revisit drug oversight if re-elected.
Market Reaction
While Kenvue — the consumer health company spun off from J&J in 2023 and now the sole owner of Tylenol — saw its shares dip sharply, Johnson & Johnson stock remained relatively steady. Analysts attribute the divergence to J&J’s diversified operations, spanning pharmaceuticals, medical devices, and biotech, which insulated it from brand-specific political rhetoric.
“Investors see Johnson & Johnson as more than just Tylenol,” said Emily Harper, senior healthcare analyst at Goldman Partners. “Its broad revenue streams provide a cushion against political noise that directly targets consumer products.”
Background on the Split
Kenvue was created to manage J&J’s consumer health portfolio, including household names like Tylenol, Listerine, and Band-Aid. While J&J retained a large stake in Kenvue, the spin-off was designed to give investors a choice between a consumer health pure play and a more innovation-driven healthcare giant.
Following Trump’s remarks, Kenvue stock dropped over 5% intraday, before trimming losses by market close. J&J shares, meanwhile, slipped less than 1%, suggesting stronger investor confidence.
Company Responses
Kenvue issued a statement defending Tylenol’s safety record:
“Tylenol has been trusted by families for more than 60 years and is manufactured to the highest standards of quality and safety,” a Kenvue spokesperson said.
Johnson & Johnson declined direct comment on Trump’s remarks but reiterated its long-term strategy.
What’s Next
With the 2024 U.S. election cycle intensifying, pharmaceutical and consumer health companies may face heightened scrutiny. Analysts suggest Kenvue could remain more vulnerable to political commentary than J&J due to its narrower focus.
“This episode highlights the risks of single-brand dependence in a volatile political environment,” said David Lin, portfolio strategist at Brookstone Investments.
Conclusion
For now, Johnson & Johnson appears to be absorbing political turbulence with less impact than Kenvue, underscoring the resilience of diversified healthcare giants against election-year rhetoric.
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