GSK Fully Exits Consumer Health Sector with Complete Sale of Haleon Stake

May 17, 2024 18:56 CST Updated 18:56

Haleon

Health Product Provider

Kenvue

Consumer Health Product Developer

Yesterday (May 16),GlaxoSmithKline (GSK)Announced plans to sell its stake in consumer health company Haleon (Haleon) of the remaining shares. It is reported that Haleon was spun off from GSK through a capital market transaction nearly two years ago.

According to the plan, as part of the sale of shares to institutional investors,GSKApproximately 385 million Haleon ordinary shares will be sold, representing about 4.2% of Haleon's issued share capital.

This represents GSK's complete divestment of its shares in Haleon, fully exiting the consumer health sector.

It is reported that Haleon is a joint venture between GSK and Pfizer, with a product portfolio including Advil, Tums, Sensodyne toothpaste, Excedrin, Nicorette gum, as well as brands like Voltaren, Panadol, and Centrum.Pfizer reduced its stake from 32% to about 24% in March through a transaction.

Last year,GSKOnce stated,The spin-off of Haleon and the subsequent equity sale will enable the company to focus on vaccines and infectious diseases, and provide funding for acquisitions to boost its pharmaceutical product line.

It should be noted that,GSK is not the only global pharmaceutical giant to make this decision.

On Monday of this week (May 13), Johnson & Johnson also sold itsSpin off and list its consumer health business Kenvue Inc.9.5%All remaining shares.

Event Review:Sell All Shares, Johnson & Johnson Completely Exits Consumer Health!

In fact, for global large pharmaceutical enterprises, this wave of divestiture of consumer health divisions has been ongoing for nearly a decade. It is a common choice among companies such as Pfizer, GSK, Merck, and Sanofi, aiming to focus more on innovative drugs and therapies.

References:

https://www.reuters.com/markets/deals/gsk-intends-sell-its-remaining-stake-haleon-2024-05-16/

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