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 will also have its own headquarters in Weybridge, U.K., which lies about 20 miles southwest of central London. The 120 million pound campus, expected to open at the end of 2024, will be built with an eco-friendly goal in mind.
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.
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.
Along the way, GSK named current department head Brian McNamara as the new firm’s CEO designate and former Tesco CEO Dave Lewis as the chair designate.
Upon creation, Haleon will be an FTSE-listed consumer health leader with popular over-the-counter products such as multivitamins brand Centrum, anti-inflammatory gel Voltaren and pain reliever Panadol. The entire franchise boasts 2021 sales of 9.6 billion pounds sterling ($13 billion). The business came to be what we know today after integrating consumer portfolios from Novartis and Pfizer.
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.
GSK is a science-led global healthcare company.GlaxoSmithKline (GSK) is one of the world’s largest research-based pharmaceutical companies that that discovers, develops, manufactures and markets human health products. It is an innovative company that produces branded products only, which it has developed itself.GlaxoSmithKline Pharmaceuticals Ltd is an England research-based pharmaceutical and healthcare company, and a subsidiary of GlaxoSmithKline plc. Its product portfolio includes prescription medicines and vaccines.It provides some excellent benefits such as healthcare, prescription drug coverage, 401k with a good match and adequate paid time off.
1. Sales in FY2021 £9.6 billion, including Brands divested/under review; £9.5bn continuing sales