GSK to spin off consumer health business Haleon in July

GSK plc has announced that the planned demerger and listing of its consumer healthcare business, Haleon, are expected to occur in July 2022. The move is part of a broader strategy by GSK to separate into two distinct growth companies focused on different areas of healthcare.

Haleon will operate as an independent entity focused solely on consumer health, with projections for medium-term annual organic sales growth between 4% and 6%. The new company inherits a robust portfolio of brands, including Sensodyne, Panadol, Advil, and Voltaren. This separation represents the most significant corporate change for GSK in two decades.

GSK's Chief Executive Officer, Emma Walmsley, described the announcement as a key milestone ahead of what she termed a "significant corporate change" for the company. Haleon has been assembled through a series of strategic acquisitions and divestitures, and the demerger aims to unlock the potential of both GSK and the newly formed consumer health business.

In 2021, Haleon reported sales of approximately £9.5 billion. The company intends to focus on brand development and innovation to enhance profitability and deliver shareholder returns, with an initial dividend payout ratio targeted between 30-50%.