(Finance) – After the failure of the negotiations for the sale a Unileverthe British pharmaceutical giant GlaxoSmithKline (GSK) announced that the new company that will arise from spin-off of the Consumer Healthcare division of GSK will be called Haleon. “We are on track to launch Haleon in mid-2022 and our business momentum is strong. We look forward to updating investors and analysts on these issues during our Capital Markets Day on February 28, “said Brian McNamara, Chief Executive Officer designate of Haleon.
Once listed, Haleon’s portfolio will be broad and made up of well-known brands such as Sensodyne, Voltaren, Parodontax and Multicentrum. On the Capital Markets Day on February 28, details will be provided on Haleon’s overall strategy, capabilities and operations, as well as detailed financial information and business growth ambitions. For potential investors, “Haleon will deliver attractive organic revenue growth, operating margin expansion and steady high cash generation,” GSK points out.
The separation of Consumer Healthcare will take place in mid-2022 through a demerger of at least 80% of GSK’s stake to shareholders. Haleon will be based in Weybridge, UK, and is expected to get one premium listing on the London Stock Exchangeand the listing ADR in the United States.