GSK Introduces Standalone Consumer Healthcare Company, Haleon
GSK and Pfizer proposed to combine their consumer healthcare business into a world-leading joint venture in 2019. Now, the companies will deploy Haleon in over 100 markets globally.
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By - GSK recently announced that the consumer healthcare company from its proposed transaction with Pfizer will be named Haleon.
Haleon will be a new world leader in consumer healthcare, offering to bring deep human understanding together with trusted science.
The creation of the standalone company resulted from a series of successful investments and strategic changes to GSK’s consumer health business over the last eight years, including integrations of the consumer product portfolios from Novartis and Pfizer.
In July 2019, GSK and Pfizer completed the deal to form a joint-venture for their consumer healthcare business. As a part of the deal, GSK held a majority controlling equity interest of 68 percent in the venture.
Haleon is now the global leader in over-the-counter products with the number one or two market share positions in all key geographies, including the US and China. So far, the company has generated annual sales of approximately £10 billion.
GSK and Pfizer will deploy Haleon in over 100 markets globally where the business operates.
“Haleon brings to life years of hard work by many outstanding people to build this new company purely dedicated to everyday health,” Emma Walmsley, chief executive officer of GSK, said in the announcement.
“Haleon has enormous potential to improve health and wellbeing across the world with strong prospects for growth, and through listing will unlock significant value for GSK shareholders,” Walmsley continued.
Haleon will also focus on health and wellness, a significant demand from the aging population, emerging middle-class, and unmet consumer needs. Overall, the company is positioned to deliver human health impact and sustainable growth ahead of the market in years to come, a GSK spokesperson explained.
Brian McNamara, chief executive officer designate at Haleon, stated that Introducing Haleon to the world furthers its journey to become a new, standalone company. Haleon is slated to deliver better everyday health and become a world leader in consumer healthcare.
