Kimberly-Clark to buy Tylenol maker Kenvue for nearly $50 billion

Kimberly-Clark announced Monday that it will buy Tylenol parent company Kenvue for nearly $50 billion.

The two companies said that the combined business will bring together 10 billion-dollar brands and drive annual revenue of $32 billion, CNN reported. The total amount that Kenvue is being bought for is $48.7 billion. Kimberly-Clark also makes Huggies baby diapers.

The announcement comes weeks after President Trump made claims linking Tylenol to autism in pregnant women's unborn babies, lowering Kenvue’s stock. The company has pushed back against the Trump administration’s accusations.

The new, combined company will make products that “touch nearly half the global population through every stage of life,” including Johnson’s baby products, Clean & Clear skin care, Kleenex, Listerine mouthwash, and Depends adult diapers, the companies said in a statement.

In 2022, Kenvue was spun off from Johnson & Johnson, with J&J keeping its name for its larger pharmaceutical business unit and offloading its consumer brands.

The transaction between Kimberly-Clark annd Kenvue is scheduled to close in the second half of 2026. After the closing, Kimberly-Clark shareholders will own about 54% of the newly combined company, with Kenvue shareholders owning the rest.

Last week, Texas Attorney General Ken Paxton filed a lawsuit against Kenvue for "deceptively marketing Tylenol to pregnant mothers."

Kenvue pushed back on Paxton's claims in a statement, saying it is "deeply concerned by the perpetuation of misinformation on the safety of acetaminophen and the potential impact that could have on the health of American women and children."