Kenvue Shares Decline Amid Anticipated HHS Report on Tylenol and Autism

Shares of Kenvue declined more than 10% on Friday after reports emerged that Health and Human Services Secretary Robert F. Kennedy Jr. intends to release a report linking the use of Tylenol during pregnancy to autism. The Wall Street Journal indicated that the Department of Health and Human Services (HHS) is expected to publish this report later this month. The forthcoming report is also anticipated to suggest that a folate-derived medication may help alleviate autism symptoms in some individuals. In response, Kenvue stated that it has "continuously evaluated the science and [continues] to believe there is no causal link" between acetaminophen use during pregnancy and autism. The company emphasized that the Food and Drug Administration and leading medical organizations "agree on the safety" of the drug when used appropriately during pregnancy. Previous legal actions alleging a connection between acetaminophen and autism have been dismissed due to insufficient scientific evidence. In December 2023, U.S. District Judge Denise Cote ruled that expert witnesses failed to provide sound scientific methodology to support claims that acetaminophen could cause autism spectrum disorder or attention deficit hyperactivity disorder. The FDA advises pregnant women to consult healthcare providers before using over-the-counter medications, including acetaminophen.