Haleon is born as new consumer healthcare manufacturing operation
Five months after announcing it, GlaxoSmithKline confirmed it has completed the spin-off of its consumer division, which is now officially operating as Haleon.
The name change applies to Glaxo’s manufacturing plant in Guayama.
The new independent company is 100% focused on consumer health, completing its demerger from GSK. Haleon is the maker of recognized brands such as Sensodyne, Advil, and TUMS.
Trading began Monday on the London Stock Exchange (LSE), with Brian McNamara, CEO of Haleon, leading the opening ceremony to signal the start of trading. Trading on the New York Stock Exchange (NYSE) is set to follow with a similar market-opening event taking place July 20.
Haleon has a portfolio of brands including Advil, Centrum, Sensodyne, Robitussin, and TUMS and will continue to develop category leading brands that address real consumer health needs, while focusing on future innovation across its entire portfolio.
“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,” said McNamara.
With an increased consumer focus on health and wellness, an aging global population, an emerging middle class in high-growth economies, growing self-care in the face of increased pressure on public healthcare systems, and sizeable unmet consumer needs, Haleon has launched at a time when the consumer healthcare market is set for expansion (expected to be at a rate of 3-4% annually over the medium-term).
Haleon expects to deliver medium-term annual organic revenue growth of 4-6%, executives said.
“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,” said McNamara.
Haleon (pronounced “Hay-Lee-On”) was unveiled as the name of the business in February 2022 and is inspired by the merging of the words “Hale,” which is an old English word meaning ‘in good health’ and Leon, which is associated with the word “strength.”
“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,” said Lisa Paley, president of Haleon North America said.
“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,” she said.