Shares of Kenvue dropped more than 10% on Friday following reports that Health and Human Services Secretary Robert F. Kennedy Jr. may soon release findings suggesting a link between autism and the use of Tylenol during pregnancy. According to the Wall Street Journal, the forthcoming government report is expected to highlight research on the potential risks of acetaminophen, the generic name for Tylenol, when taken by expectant mothers. The same report may also recommend treatments involving folate-derived medicines to help manage certain symptoms of autism.
In response, an HHS spokesperson emphasized that the agency is relying on “gold-standard science” to investigate the causes behind the rise in autism diagnoses in the United States. They cautioned that any claims regarding the report’s contents are speculative until the official release, which is expected later this month.
Kennedy has made autism a central focus of his leadership at HHS, pledging earlier this year that the agency will determine the cause of what he has described as an autism epidemic by September. He also announced a global research initiative involving hundreds of scientists to explore possible environmental or pharmaceutical contributors. His broader approach has drawn scrutiny, as he has also challenged established vaccine policies and cast doubt on the safety of certain widely used therapies.
Kenvue, however, strongly disputed the idea of a connection between Tylenol and autism, stating that it has repeatedly reviewed scientific data and continues to believe no causal link exists. The company also pointed out that the Food and Drug Administration and major medical organizations support the safety of acetaminophen when used as directed, including during pregnancy. The FDA maintains that no clear evidence connects appropriate acetaminophen use to harmful pregnancy or developmental outcomes, though it advises women to consult healthcare providers before taking over-the-counter medications.
The American College of Obstetricians and Gynecologists has likewise affirmed that acetaminophen remains a safe option for pregnant women when used responsibly and under medical guidance. Although some studies have raised concerns and a number of parents have pursued lawsuits alleging harm, courts have consistently found insufficient scientific support. In fact, a federal judge in Manhattan dismissed major litigation in 2023, with final rulings in 2024 favoring Kenvue.
Analysts remain cautious but skeptical about any potential fallout. A note from BNP Paribas underscored that the legal and scientific barriers to proving causation are high, especially since previous lawsuits ended without establishing evidence against the company. For now, the market is responding to uncertainty, with Kenvue shares reflecting investor concern ahead of the report’s publication.
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