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Consumer healthcare group Haleon on Thursday announced that it has entered into a binding agreement for the sale of the ChapStick brand to Suave Brands Company, a company owned by American private equity firm Yellow Wood Partners. The British consumer healthcare company has agreed to sell its lip balm brand to Suave for about $430 million in cash and a minority interest in the buyer, valued at around $80 million. Haleon, which was spun off from the GSK Group in July 2022, said that cash proceeds from the sale would be used to pay down debt. ChapStick generated £112 million ($142.5 million) in revenue in 2023, said Haleon, adding that the sale is likely to close in the second quarter of 2024. Brian McNamara, Chief Executive Officer, Haleon, said: "Today's announcement is consistent with Haleon being proactive in managing our portfolio, and being rigorous and disciplined where there are opportunities for divestment. "While ChapStick is a great brand, much loved by consumers around the world, it is not a core focus for Haleon.

Pfizer's plan to sell its Haleon stake is not a surprise, the consumer health company's finance chief Tobias Hestler told Reuters on Wednesday (3 May). London-listed Haleon was carved out as an independent company in July and comprises consumer health assets once owned by GSK and Pfizer. Pfizer, which has a 32% stake in the maker of Sensodyne toothpaste and Panadol painkillers, told the Financial Times on Tuesday that it intends to offload that stake in a "slow and methodical" manner within months. Hestler said Pfizer has long been clear about its intention to sell off the stake, suggesting that the reason the potential of the selloff has gained traction is because the selling window opens around the time that Haleon's results are announced. "This will happen every quarter from now until they're sold off…this is just what's expected," he said, adding: "If I get a courtesy call the evening before they do it then that would be nice, but they don't even have to do that." Shares of the world's biggest standalone consumer health business were down more than 3% in early trading.

The primary responsibility of community pharmacists is taking care of their patients but to do that they also need to learn how to run the business. It is one thing to be au fait with profit and loss statements, reimbursement models, budgets analysis, business planning and so much more but quite another when one is hard pressed on everything - time, resources and cash flow. Bas Vorsteveld - the new vice president and general manager in Great Britain & Ireland for Haleon, a new company 100 per cent focussed on consumer healthcare - has witnessed first-hand how "time poor" pharmacists usually are and is committed to helping ease their burden wherever possible. "They can be drowning in work at all times throughout the day. If I happen to spot a community pharmacy while I am out shopping with the family, I almost always pop into the store, with obviously a lot of questions in my head. If the pharmacist has the time, I ask them a few questions and once we start the conversation and they find out that I'm the general manager for a company that provides them with some of their big brand products, I often get a look of total surprise on their face, especially as I've come to visit their store and take the time to speak with them personally. I've really seen first-hand what a busy bunch they are! "I often want to know how the shop front is presented? What does the pharmacy look like from inside? Is there a big queue? What kind of advertisement the pharmacy has in place? How are our products merchandised?