Haleon includes a portfolio of global brands including Advil, Centrum, Sensodyne, Robitussin, and TUMS and is expected to achieve annual organic revenue growth of 4% to 6%


GSK House in London. (Credit: GSK plc.)

GlaxoSmithKline (GSK) has completed the previously announced demerger of its consumer healthcare business to form Haleon with a market value of £30.5bn.

Led by Brian McNamara as CEO, Haleon formed as an independent company, listed on the London Stock Exchange (LSE), with plans to list on the New York Stock Exchange (NYSE).

The new entity includes a portfolio of global brands including Advil, Centrum, Sensodyne, Robitussin, and TUMS and will continue to develop consumer health brands.

Haleon said that it has been launched at a time when the consumer healthcare market is set for expansion, and expects to achieve 4% to 6% organic revenue growth per annum.

Haleon chief executive officer Brian McNamara said: “This is a significant milestone for Haleon. Guided by our clear purpose and with a world-class portfolio of brands that people know and trust, we stand ready to help address consumer needs and make better everyday health more achievable, inclusive, and sustainable.

“Consumer health has never been more important than it is today, and I am delighted that Haleon, as an independent company, is ready to pursue our ambitions.

“Today follows a huge amount of effort, planning, and collaboration by our dedicated colleagues all around the world.”

Pfizer and GSK have initially signed an agreement in December 2018 to create a premier global consumer healthcare company.

In July 2019, they formed a JV that consolidated their consumer healthcare units, where Pfizer owned a 32% stake and GSK owned a 68% stake in the JV.

Last year, GSK confirmed its intention to separate its consumer healthcare business to establish Haleon as an independent listed company.

Earlier this year, Pfizer unveiled its plans to divest its entire 32% stake in Haleon, its consumer healthcare joint venture with GSK, citing the benefits to its shareholders.

Haleon North America president Lisa Paley said: “Health matters, and our dedication to consumers, customers, and each other drives an unmatched understanding and empathy of what people truly need on their wellness journey.

“Our constant hunger, irresistible energy, and humanity fuel our desire to go beyond the products we sell in the US and Canada to offer new and valuable services and solutions that can and will have a positive impact on everyday health.”