GSK Sees Other Side Of Consumer Health Stockpiling Coin, Looks Ahead To Business Split
GSK reports pandemic-related stockpiling in 2020 combined with a weak cold and flu season in Q1 drove its consumer health sales down 9%, with the sharpest downturn in respiratory products sales. The firm expects in the second half of the year to see “more normal consumer trends.”
You may also be interested in...
Likely talking points when three of the biggest global consumer health players report Q1 results include: GSK's separation plan and the influence of a new major investor; Sanofi's program to divest over half of its OTC brands; and Bayer's ability to sustain higher sales of dietary supplements post-COVD-19.
US consumer health sales jumped 6.7% in 2020 in stores, a reversal of recent years as consumers move away from private label, “on-the-go” and natural oral care during the pandemic, IRI data show.
COVID-19 has not held back GSK's preparations to create the world's largest standalone consumer health business, with CEO Emma Walmsley confirming separation is on track for summer next year.