Johnson & Johnson has sold off its remaining stake in the Kenvue consumer products business it spun off last year.

In a filing with the SEC today, J&J said it brought in $3.6 billion for general corporate purposes from the transaction.

Johnson & Johnson brought in the cash on May 15 after it issued a $3.6 billion aggregate principal amount of commercial paper, according to the Form 8-K. Today, the company completed a debt-for-equity exchange of its remaining 182,329,550 shares of Kenvue common stock for the outstanding commercial paper. Upon completion of the debt-for-equity exchange, the commercial paper was satisfied and discharged, and J&J no longer owns any shares of Kenvue common stock (NYSE: KVUE).

When Kenvue completed its IPO in May 2023, J&J brought in $4.2 billion in net proceeds. At the time, it still owned roughly 89.6% of Kenvue’s total outstanding shares. After an exchange offer in August 2023, J&J’s ownership percentage in Kenvue was reduced to 9.5%.

The separation enabled J&J to sharpen its focus on its MedTech and Pharmaceutical businesses. The company completed a $16.6 billion acquisition of Abiomed in late 2022 that bolstered the size of its medtech business compared to pharma. J&J is in the process of acquiring Shockwave Medical for $13.1 billion.