Kenvue
32 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
Large-format retail customers
earns fromnamed as a riskAs a result of these trends, certain large-format customers and customer alliances have significant bargaining strength and represent a significant proportion of our total Net sales.Risk factors (Item 1A)
Suppliers
Third-party contract manufacturers
depends on · approximately 60% of our sales volumenamed as a riskOur in-house manufacturing footprint delivered approximately 60% of our sales volume during the fiscal year 2025, with the remaining sales volume being supplied by an extensive network of external manufacturing facilities operated by trusted third-party suppliers.Business (Item 1)
Johnson & Johnson (J&J)
depends onnamed as a riskThese services consist of supplying us with specified products, or components thereof, including Motrin®, Tylenol®, Zyrtec®, and other OTC products, for terms of varying duration following the Separation.Risk factors (Item 1A)
Tylenol API single-source suppliers
depends onnamed as a riskDespite our goal of having two or more active sources of supply for all critical materials or to build appropriate safety stock, we purchase certain key components and materials for our products, including APIs required to manufacture Tylenol®, from single-source suppliers or a limited number of suppliers.Risk factors (Item 1A)
Other companies
Kimberly-Clark Corporation
0.14625 shares of K-C common stock and 2) $3.50 in cashnamed as a riskOn November 2, 2025, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Kimberly-Clark Corporation, a Delaware corporation (“K-C” or, with reference to the post-closing period, the “combined company”), Vesta Sub I, Inc., a Delaware corporation and a direct wholly owned subsidiary of K-C (“First Merger Sub”), and Vesta Sub II, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of K-C (“Second Merger Sub”).Business (Item 1)
Talc-Related Liabilities indemnity from J&J
named as a riskAlthough, under the Separation Agreement, J&J has agreed to indemnify us for the Talc-Related Liabilities and any costs associated with resolving such claims, we cannot assure you that the indemnity from J&J will be sufficient to protect us against the full amount of these liabilities or that J&J will be able to fully satisfy its indemnification obligations.Risk factors (Item 1A)
Zantac (ranitidine)
named as a riskJJI has been named as a defendant, along with other manufacturers, in two proposed class actions in Canada alleging that Zantac and other OTC medications that contain ranitidine may degrade and result in unsafe levels of NDMA (N-nitrosodimethylamine) and can cause or have caused various cancers in patients using the products.Risk factors (Item 1A)
Competitors
Procter & Gamble
competes withEssential Health. Church & Dwight, Colgate-Palmolive, Haleon, Kimberly-Clark, Procter & Gamble, and private-label brandsBusiness (Item 1)
Also named by PCT
Haleon
competes withSelf Care. Haleon, Procter & Gamble, Reckitt Benckiser Group, and private-label brandsBusiness (Item 1)
Places
Foreign currency (EU, China, Canada, UK, Brazil, India)
exposed to its price · approximately $122 millionnamed as a riskThe global nature of our operations (particularly, the EU, China, Canada, the United Kingdom, Brazil, and India), both in the manufacture and sale of our products, results in foreign currency exposure to our financial statements.Market risk (Item 7A)
Commodities and inputs
Resins
exposed to its pricenamed as a riskWe are exposed to commodity and other price risks, including from resins, silicon, pulp and corn derivatives, paper, agrochemicals, vegetable oils and oleochemicals; and other inputs, including energy, labor, transportation (such as trucks, containers, and ocean freight), and logistics services.Market risk (Item 7A)
Also named by BAX, BDX, CL, FBIN, ITW, JOUT, PG, PPG and 2 more
Pulp
exposed to its pricenamed as a riskThe principal raw materials used in our products include resins, silicon, pulp and corn derivatives, paper, agrochemicals, vegetable oils, and oleochemicals.Business (Item 1)
Talc
named as a riskWe are currently subject to such claims outside of the United States and Canada, including claims in the United Kingdom, and as such, we cannot reasonably estimate any probable loss relating to such claims.Risk factors (Item 1A)
Acetaminophen
subject tonamed as a riskThe foregoing actions may depress sales of products containing acetaminophen and could result in an increased risk of future litigation containing similar claims.Risk factors (Item 1A)
Phenylephrine
subject tonamed as a riskIn November 2024, the FDA issued a proposed order to remove the ingredient from the OTC monograph.Risk factors (Item 1A)
Vegetable oils and oleochemicals
exposed to its pricenamed as a riskWe are exposed to commodity and other price risks, including from resins, silicon, pulp and corn derivatives, paper, agrochemicals, vegetable oils and oleochemicals; and other inputs, including energy, labor, transportation (such as trucks, containers, and ocean freight), and logistics services.Market risk (Item 7A)
Regulators
U.S. Food and Drug Administration (FDA)
subject tonamed as a riskMost of our OTC products marketed in the United States are regulated pursuant to the FDA’s monograph system.Business (Item 1)
Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more
Texas Attorney General
subject tonamed as a riskMoreover, litigants with claims against us have tried, and may in the future try, to enjoin our ability to pay dividends, such as when the Attorney General of Texas sought to block the payment of Kenvue’s regular quarterly dividend in November 2025 in a lawsuit against us and our subsidiary Kenvue Brands LLC regarding the safety of our products containing acetaminophen.Risk factors (Item 1A)
Consumer Product Safety Commission (CPSC)
subject toIn addition, many of our products are subject to regulation by the CPSC under the Poison Prevention Packaging Act (the “PPPA”), the Consumer Product Safety Act, the Federal Hazardous Substances Act, and other laws enforced by the CPSC.Business (Item 1)
Also named by ASO, AXON, BBW, CHD, DORM, GNRC, HAS, PG and 8 more
China National Medical Products Administration (NMPA)
subject toIn China, our OTC products are regulated by the National Medical Products Administration (the “NMPA”), which is the primary authority for the safety and registration of medicines, medical devices, and cosmetics.Business (Item 1)
Laws and programs
Tariffs
exposed to its pricenamed as a riskDuring 2023, 2024 and 2025, we partially offset the impact of prior inflationary increases, as well as tariffs, through price increases, in addition to continued supply chain optimization initiatives.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
Superfund (CERCLA)
subject tonamed as a riskWe are addressing contamination from historical operations that has been identified at certain of our current or former properties and are involved in a number of proceedings brought under the Comprehensive Environmental Response, Compensation, and Liability Act, commonly known as Superfund, and other comparable state, local, or foreign laws in which the primary relief sought is the cost of past and/or future remediation.Risk factors (Item 1A)
Also named by ABBV, ABT, AMD, CRS, ED, FLS, IR, MO and 4 more
EU REACH
subject tonamed as a riskThis includes the REACH regulations, which came into effect in the EU in 2007, with implementation rolling out over time, and includes certain chemical evaluation and registration requirements and potential restrictions.Risk factors (Item 1A)
FTC Endorsement Guides
subject tonamed as a riskFurthermore, if claims made by us or our third-party partners do not comply with the Endorsement Guides or any requirements of the FTC Act or similar state requirements, then the FTC and state authorities could subject us to investigations and enforcement actions, impose penalties, require us to pay monetary consumer redress, require us to revise our marketing materials, or require us to accept burdensome injunctions, any of which could adversely affect our business, results of operations, or financial condition.Risk factors (Item 1A)
Texas Deceptive Trade Practices-Consumer Protection Act
subject tonamed as a riskFor example, in November 2025, we received a non-public Civil Investigative Demand (“CID”) from the Attorney General of the State of Texas pursuant to the Texas Deceptive Trade Practices-Consumer Protection Act.Business (Item 1)
Pseudoephedrine prescription-only status in Belgium, Luxembourg, France
subject tonamed as a riskDuring the fiscal twelve months ended December 29, 2024, Belgium, Luxembourg, and France changed the regulatory status of medications containing PSE from OTC to prescription-only.Business (Item 1)
China Personal Information Protection Law (PIPL)
subject toIn China, we are subject to the Personal Information Protection Law (the “PIPL”), which applies to the processing of personal information of natural persons within China, the processing of personal information outside China where the purpose is to provide products and services within China, and the analysis or assessment of the activities of individuals within China.Business (Item 1)
Also named by ADSK, BSX, DCI, EWBC, FBIN, GTLB, IDCC, SBUX and 2 more
Hart-Scott-Rodino Antitrust Improvements Act
subject toAdditionally, the waiting period applicable to the Proposed Transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired on February 4, 2026.Business (Item 1)
Also named by AWK, BEN, BLK, CPRT, CTAS, FSK, NXST, SWKS and 2 more
EU Medical Device Regulation (Regulation (EU) 2017/745)
subject toIn the EU, the Medical Device Regulation (Regulation (EU) 2017/745) allows manufacturers to self-certify compliance of certain medical devices by submitting notifications to the competent authority, with files open to inspection by a competent authority.Business (Item 1)
Combat Methamphetamine Epidemic Act
subject toIn addition, the DEA regulates certain of our OTC products containing pseudoephedrine (“PSE”), such as Sudafed® and Zyrtec-D®, pursuant to the Combat Methamphetamine Epidemic Act (the “CMEA”).Business (Item 1)
Modernization of Cosmetics Regulation Act
subject toIn addition, the Modernization of Cosmetics Regulation Act, enacted in December 2022, expanded the FDA’s regulatory authority over cosmetic products, including by providing the FDA with new mandatory recall authority over cosmetics and by requiring the registration of cosmetic manufacturing facilities, the reporting of certain adverse events, the issuance of cGMP requirements, and the establishment of safety substantiation requirements.Business (Item 1)
OTC Monograph Reform Act
subject toUnder the OTC Monograph Reform Act, the FDA can also require manufacturers to conduct additional testing to ensure the safety and efficacy of monograph drug products.Business (Item 1)