The share price of the company that sells Tylenol plunged to a record low on Friday on reports that the over-the-counter pain medication was being connected to autism in children.
The price of Kenvue Inc fell more than 19% after a newspaper report that United States Health Secretary Robert F. Kennedy Jr. plans to announce the use of Tylenol in pregnant women was potentially linked to autism.
This is inconsistent with medical advice that it is safe to use, according to an article in The Wall Street Journal (WSJ), which cited people familiar with the matter.
Kenvue responded with a statement saying it had continuously evaluated the science and continued to believe there was no causal link between autism and the use of acetaminophen, the generic name for Tylenol, during pregnancy.
“Nothing is more important to us than the health and safety of the people who use our products,” a Kenvue spokeswoman was quoted as saying.
“We have continuously evaluated the science and continue to believe there is no causal link between acetaminophen use during pregnancy and autism.”
Kennedy will also suggest a medicine derived from folate called folinic acid can be used to treat symptoms of autism in some people, the WSJ reported.
Hundreds of lawsuits linking acetaminophen to autism or attention-deficit hyperactivity disorder have been filed, although a judge in 2023 ruled that the scientific evidence behind the claims was unreliable.
The U.S. Department of Health and Human Services said that until the final report was released, claims about its contents were speculation.
"We are using gold-standard science to get to the bottom of America’s unprecedented rise in autism rates," a spokesperson was quoted in a Reuters article as saying.
Kennedy, a well-known conspiracy theorist and anti-vaccine crusader, has for some time promised to reveal the cause of autism.
Kenvue shares finished $4.44 (19.25%) lower at $18.62 on Friday (Saturday AEST), capitalising the company at US$35.73 billion (A$54.5 billion), after at one stage hitting a record low of $17.14.
The company, spun off by consumer health giant Johnson & Johnson in 2023, owns brands such as Band‑Aid, Neutrogena, Listerine, Aveeno, Johnson’s Baby, Benadryl and Lactaid.
