Kenvue Shares in Freefall after Reports of Autism Link to Tylenol

The stock price of Kenvue experienced a drastic decline on Friday, September 5th. The backdrop is reports that Health Minister Robert F. Kennedy Jr. plans to establish a link between autism and the use of the drug Tylenol by pregnant women. Tylenol, a widely used over-the-counter pain reliever with the active ingredient acetaminophen, is produced by Kenvue, a spin-off of Johnson & Johnson. Earlier this year, the company relocated its global headquarters to New Jersey and inaugurated the new headquarters there along with Governor Phil Murphy and then-Kenvue CEO Thibaut Mongon. The report by Kennedy Jr., supported by former President Donald Trump's "Make America Healthy Again" initiative, is expected to be published later this month, according to a report by the Wall Street Journal last Friday. In a statement to the Wall Street Journal, Kenvue emphasized that the company continuously reviews scientific findings and continues to believe that there is no causal link between acetaminophen, pregnancy, and autism. They added that the FDA and leading medical organizations confirm the safety of the medication for pregnant women as well as the information on the Tylenol packaging. The FDA website states that there is no clear evidence that the proper use of acetaminophen during pregnancy has adverse effects on pregnancy, childbirth, or child development.