REG - GlaxoSmithKline PLC - GSK Consumer Healthcare to be called Haleon

GSKAnnouncement

22/02/2022 14:00

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RNS Number : 4580C  GlaxoSmithKline PLC  22 February 2022

Issued: 22 February 2022, London UK

 

GSK announces independent Consumer Healthcare company is to be called Haleon

 

·   Haleon will be a new world-leader in consumer health with an
exceptional portfolio of category-leading brands, including Sensodyne,
Voltaren, Panadol and Centrum

·   Business is on track to demerge and list as a new company in mid-2022

 

 

GlaxoSmithKline plc (GSK) today announced that the new company, to result from
the proposed demerger of Consumer Healthcare from GSK in mid-2022, will be
called Haleon.

 

Haleon (pronounced "Hay-Lee-On") is inspired by the merging of the words
'Hale', which is an old English word that means 'in good health' and Leon,
which is associated with the word 'strength'. The new brand identity was
developed with input from employees, healthcare practitioners and consumers
and will be deployed in more than 100 markets around the world where the
business operates.

 

The creation of Haleon results from a series of successful investments and
strategic changes to GSK's consumer health business over the last 8 years,
including integrations of the consumer product portfolios from Novartis and
Pfizer. It is now a highly valuable and focused global business generating
annual sales of approximately £10 billion( 1 ).

 

As a standalone company, Haleon will be a new world-leader in consumer
healthcare, offering a compelling proposition - to bring deep human
understanding together with trusted science - to deliver better everyday
health with humanity.

 

Brian McNamara, Chief Executive Officer Designate, Haleon, said: "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. We look forward to updating investors and analysts more on this at our
capital markets event at the end of February."

 

Emma Walmsley, Chief Executive Officer, GSK, said: "Haleon brings to life
years of hard work by many outstanding people to build this new company purely
dedicated to everyday health. 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."

 

Haleon will have a world-class portfolio of category-leading global brands,
including Sensodyne, Voltaren, Panadol and Centrum. Its brands are trusted by
healthcare professionals, customers and people worldwide to improve the health
and wellbeing of individuals and their communities. Demand from the £150
billion consumer healthcare sector is strong, reflecting an increased focus on
health and wellness, significant demand from an ageing population and emerging
middle-class, and unmet consumer needs. The business is therefore
well-positioned to deliver human health impact and to sustainably grow ahead
of the market in the years to come.

 

The new name was announced as part of a global celebration for all of the
people working in GSK Consumer Healthcare earlier today.  Employees from
around the world had the opportunity to engage with the new name and brand
identity which seeks to bring to life the company's purpose and growth
ambitions.

 

The name was also announced in advance of GSK hosting a Consumer Healthcare
Capital Markets Day for investors and analysts on Monday 28 February, to
provide details on the overall strategy, capabilities and operations of
Haleon, including detailed financial information and growth ambitions of the
business. For prospective investors, Haleon will offer attractive organic
sales growth, operating margin expansion and consistent high cash generation.

 

Notes to editors

•     As set out at GSK's Investor Update in June 2021, subject to
approval from shareholders, the separation of Consumer Healthcare will be by
way of a demerger in mid-2022 of at least 80% of GSK's holding to
shareholders.

•     Haleon will be headquartered in Weybridge, UK, and is expected to
attain a premium listing on the London Stock Exchange, with ADRs to be listed
in the US.

•     The new Weybridge campus is expected to open at the end of 2024
and, alongside being the new company's corporate headquarters, will be a
centre of R&D and innovation, and home to a new state-of-the-art Shopper
Science Lab.

•     In July 2021, the Board of GSK confirmed Brian McNamara as CEO
Designate and in December 2021, announced the appointment of Sir Dave Lewis as
Chair Designate of the new company to result from the proposed demerger of
Consumer Healthcare from GSK.

 

 

About GSK

GSK is a science-led global healthcare company. For further information please
visit www.gsk.com/about-us (https://www.gsk.com/en-gb/about-us/) .

 

 

 GSK enquiries:
 Media enquiries:             Tim Foley          +44 (0) 20 8047 5502  (London)
                              Madeleine Breckon  +44 (0) 20 8047 5502  (London)
                              Kathleen Quinn     +1 202 603 5003       (Washington DC)
                              Evan Berland       +1 215 432 0234       (Philadelphia)

 Analyst/Investor enquiries:  Nick Stone         +44 (0) 7717 618834   (London)
                              Sonya Ghobrial     +44 (0) 7392 784784   (Consumer)
                              Emma White         +44 (0) 7823 523562   (Consumer)
                              James Dodwell      +44 (0) 20 8047 2406  (London)
                              Mick Readey        +44 (0) 7990 339653   (London)
                              Josh Williams      +44 (0) 7385 415719   (London)
                              Jeff McLaughlin    +1 215 751 7002       (Philadelphia)
                              Frannie DeFranco   +1 215 751 4855       (Philadelphia)

 

Cautionary statement regarding forward-looking statements

GSK cautions investors that any forward-looking statements or projections made
by GSK, including those made in this announcement, are subject to risks and
uncertainties that may cause actual results to differ materially from those
projected. Such factors include, but are not limited to, those described in
the Company's Annual Report on Form 20-F for 2020, GSK's 2021 Q4 Results and
any impacts of the COVID-19 pandemic.

 

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Registered Office:

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Brentford, Middlesex

TW8 9GS

 

 

 1    Sales in FY2021 £9.6 billion, including Brands divested/under
review; £9.5bn continuing sales

 

 

 
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