Editor
Johnson & Johnson cut its guidance for 2023 adjusted profit after separating the Kenvue Inc. consumer health company.
J&J is among a host of big drugmakers divesting themselves of lower-margin, yet dependably profitable, consumer units in order to focus on the high-stakes business of making new medicines. The lure of exclusive new products has intensified with the success of cancer treatments like Merck & Co.’s Keytruda and weight —loss…
