GSK Announces Independent Consumer Healthcare Company Will Be Named Haleon
For media and investors only
Issued: London, UK
- Haleon will be a new global leader in consumer healthcare with an exceptional portfolio of category-leading brands, including Sensodyne, Voltarene, Panadol and Center
- The company is on track to unbundle and register as a new company in mid-2022
GlaxoSmithKline plc (GSK) today announced that the new company, which will result from the proposed spin-off of Consumer Healthcare from GSK in mid-2022, will be called Haleon.
Haleon (pronounced “Hay-Lee-On”) is inspired by the fusion of the words “Hale”, which is an Old English word meaning “healthy” and Leon, which is associated with the word “strength”. The new brand identity was developed with input from employees, healthcare professionals and consumers and will be rolled out in more than 100 markets around the world where the company operates.
The creation of Haleon is the result of a series of successful investments and strategic changes in GSK’s consumer healthcare business over the past 8 years, including the integration of the consumer product portfolios of Novartis and Pfizer. It is now a very valuable and focused global business, generating annual sales of around £10 billion..
As a stand-alone company, Haleon will be a new global leader in consumer healthcare, delivering a compelling proposition – combining deep human understanding with trusted science – to deliver better everyday health to humanity.
Brian McNamara, Chief Executive Designate, Haleon, noted“Bringing Haleon to the world marks another step in our journey to become a new, self-sustaining company. Our name is founded on our purpose to deliver better health every day with humanity and to be a global leader consumer healthcare. We are on track to launch Haleon in mid-2022 and our commercial momentum is strong. We look forward to updating investors and analysts further on this at our market event. capital at the end of February.
Emma Walmsley, CEO of GSK, said: “Haleon brings to life years of hard work by many great people to build this new company dedicated to everyday health. Haleon has enormous potential to improve health and well-being across the world with strong growth prospects, and through its listing it will unlock significant value for GSK shareholders.
Haleon will have a world-class portfolio of global, category-leading brands, including Sensodyne, Voltaren, Panadol and Center. Its brands are trusted by healthcare professionals, customers and people around the world for improving the health and well-being of individuals and their communities. Demand from the £150bn consumer healthcare sector is strong, reflecting an increased focus on health and wellbeing, significant demand from an aging population and emerging middle class, and the needs unsatisfied consumers. The company is therefore well positioned to have an impact on human health and to grow sustainably ahead of the market in the years to come.
The new name was announced as part of a global celebration for everyone working at GSK Consumer Healthcare earlier today. Employees around the world had the opportunity to engage with the new name and brand identity which seeks to bring the company’s growth purpose and ambitions to life.
The name was also announced ahead of GSK hosting a consumer healthcare capital markets day for investors and analysts on Monday, February 28, to provide details of the company’s overall strategy, capabilities and operations. Haleon, including detailed financial information and company growth ambitions. For potential investors, Haleon will offer attractive organic sales growth, operating margin expansion and consistent high cash generation.
Notes to Editors
- As noted in GSK’s June 2021 investor update, subject to shareholder approval, the separation from Consumer Healthcare will be through a spin-off in mid-2022 of at least 80% of GSK’s stake to shareholders.
- Haleon will be headquartered in Weybridge, UK and is expected to achieve a prime listing on the London Stock Exchange, with ADRs to be listed in the US.
- The new Weybridge campus is due to open in late 2024 and, in addition to being the headquarters of the new company, will be a center for R&D and innovation, and will house a new state-of-the-art Shopper Science Lab.
- In July 2021, GSK’s Board of Directors confirmed Brian McNamara as CEO Designate and in December 2021 announced the appointment of Sir Dave Lewis as Chairman Designate of the new company resulting from the proposed split from Consumer Healthcare from GSK.
GSK is a science-driven global healthcare company. For more information, visit www.gsk.com/about-us.
Caution Regarding Forward-Looking Statements
GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These factors include, but are not limited to, those described in the Company’s Annual Report on Form 20-F for 2020, GSK’s fourth quarter 2021 results and any impacts from the COVID-19 pandemic.
Sales in FY 2021 £9.6bn, including brands divested/under review; Continued sales of £9.5bn