GSK spins off Haleon, world's biggest standalone consumer health business - Latest Pharmacy News | Business | Magazine - Pharmacy Business - 0 views
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pharmacybiz on 18 Jul 22In a long scripted overhaul of its business, GlaxoSmithKline spun off its consumer health business on Monday (July 18) in the biggest listing in Europe for more than a decade. The new company, Haleon, becomes the world's biggest standalone consumer health business, home to brands including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu. Shares in Haleon started trading at 330 pence on Monday morning, giving the business a market valuation of around £30.5 billion - dashing high hopes for Haleon's much higher market valuation after GSK in January said it had rebuffed a £50 billion offer from Unilever on the basis it was too low. The major strategy shift by GSK chief executive Emma Walmsley to focus on the company's core pharmaceuticals business comes after she faced intense activist shareholder pressure over its delays in producing Covid jabs and treatments.