GlaxoSmithKline PLC (LSE:GSK) said plans are on track to demerge and list its consumer healthcare business Haleon as a new company in mid-2022.
It said Haleon will be a new world-leader in consumer health with annual sales of around £10bn and a portfolio of leading brands such as Sensodyne toothpaste, Voltaren and Panadol painkillers and Centrum vitamins.
"Introducing Haleon to the world marks another step in our journey to become a new, standalone company. Our name is grounded in our purpose to deliver better everyday health with humanity and to be a world-leader in consumer healthcare. We are on track to launch Haleon in mid-2022 and our business momentum is strong,” commented Brian McNamara, the chief executive officer designate of Haleon.
READ: GlaxoSmithKline goes with Haleon as new name of its Consumer Healthcare division
GSK CEO Emma Walmsley added: “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."