GSK To Spin Off And List Consumer Healthcare Business In 2022
GSK will demerge its Consumer Healthcare business in mid-2022 and list the new company on the London Stock Exchange. The move will “create new world leader in consumer healthcare,” according to GSK, with annual sales in excess of £10bn.
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GSK will spin-off its consumer health business in July under the name Haleon. The standalone operation expects to outpace market growth rates by expanding in emerging markets, tapping into consumer demand for more natural products and delivering two Rx-to-OTC switches in the US.
EU Business News: GSK Consumer Gets New Name, Navamedic Strikes Ipsen Deal, Enzymatica Optimistic After Tough Year
Round-up of the latest European consumer health business news: GSK reveals name for standalone consumer health business will be Haleon; Norways' Navamedic strikes a distribution deal with Ipsen for select GI OTC products; and Sweden's Enzymatica hopeful that changed consumer behaviors will help its sales rebound in 2022.
GSK says London-based Unilever's £50bn bid for Consumer Healthcare fundamentally undervalues a business which generated sales close to £10bn last year and is expected to grow 4-6% over the medium term. The rejection has not dissuaded Unilever, however, with the company intent on stepping up its presence in the health, beauty and hygiene categories.