GSK finalizes $36B Haleon spin-off

By Brian Buntz | July 18, 2022

GSK GSK plc (LSE/NYSE: GSK) has demerged from its consumer healthcare division to create the publicly-traded company Haleon Group.

Haleon is now one of the world’s largest consumer healthcare companies, while GSK will focus on growing its prescription drug and vaccine businesses.

The company announced the “Haleon” name in February.

In hindsight, GSK would have fared better if it had accepted Unilever’s offer to buy GSK’s consumer healthcare division for £50 billion (about $68 billion). That sum also included £10 billion worth of debt.

In January, GSK rebuffed Unilever’s advances.

Haleon shares are now traded under the ticker HLN on the London Stock Exchange. On the day of opening, HLN shares dropped 3.18% to £316.60

GSK anticipates that Haleon shares will also commence trading on the New York Stock Exchange under the ticker HLN on July 22.

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at [email protected].