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[ad_1] A combination package of Procter & Gamble Co. DayQuil Severe and NyQuil Severe brand cold and flu medicine is arranged for a photograph in Tiskilwa, Illinois. Daniel Acker | Bloomberg | Getty Images The main ingredient used in many popular over-the-counter cold and allergy medications doesn't actually work to get rid of nasal congestion, an advisory panel to the Food and Drug Administration declared Tuesday.  In a unanimous vote, 16 advisors said oral versions of phenylephrine – a nasal decongestant found in versions of drugs like Nyquil,  Benadryl, Sudafed and Mucinex – aren't effective at relieving a stuffy nose.  The FDA typically follows the advice of its advisory committees but it is not required to do so. The agency could potentially move to begin a process that removes phenylephrine from the market, which would force manufacturers to pull widely used cough and cold medications from store shelves and reformulate those products.  That could affect Procter ...

[ad_1] Thibaut Mongon, CEO of Kenvue Inc. a Johnson & Johnson's consumer-health business, speaks during an interview to celebrate its IPO at the New York Stock Exchange (NYSE), May 4, 2023. Brendan Mcdermid | Reuters Most consumers have pulled back on spending as inflation squeezes their wallets, but they have not stopped paying up for brand-name health and personal care products, Kenvue CEO Thibaut Mongon said. Mongon told CNBC on Thursday that consumers are still willing to spend on the company's branded products – even as they reduce discretionary spending at retail stores and trade down on some essential items by changing their usual purchase size or switching brands for lower prices.  The Johnson & Johnson consumer spinoff Kenvue beat second-quarter revenue and adjusted earnings estimates on Thursday, fueled by resilient demand for the company's wealth of widely known brands such as Band-Aid, Tylenol, Listerine, Neutrogena and Aveeno. Still, the co...

[ad_1] Thibaut Mongon, CEO and Paul Ruh CFO of Kenvue Inc. a Johnson & Johnson's consumer-health business, pose together during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. Brendan McDermid | Reuters Johnson & Johnson on Thursday said its shareholders will soon be able to swap their shares for stock of Kenvue , which spun out as an independent consumer health company just two months ago. J&J owns nearly 90% of Kenvue shares and plans to reduce its stake through an exchange offer that could launch "as early as the coming days," depending on market conditions, J&J CFO Joseph Wolk said during the company's second-quarter earnings call.  That process, also known as a split-off, will allow J&J shareholders to exchange all or a portion of their shares for Kenvue's common stock. J&J did not provide further details on the planned offer. But Wolk said a split-off is the "most advanta...

[ad_1] Johnson & Johnson on Thursday reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations, and lifted its full-year guidance as sales from the company's medtech business jumped. The medtech division provides devices for surgeries, orthopedics and vision. The company is benefitting from a rebound in demand for non-urgent surgeries among older adults, who deferred those procedures during the pandemic. That increased demand has been observed by health insurers like UnitedHealth Group and Elevance Health . Here's how J&J results compared with Wall Street expectations, based on a survey of analysts by Refinitiv: Earnings per share: $2.80 adjusted, vs. $2.62 expected Revenue: $25.53 billion, vs. $24.63 billion expected Shares of J&J rose more than 5% in morning trading Thursday. The stock has dropped more than 5% for the year, putting the company's market value at roughly $436 billion.  J&J, whose financial...