GSK to Sell Stake in Haleon, Boosting Consumer Healthcare Business

GSK, the British drugmaker, has announced its intention to sell a 2.9% stake, equivalent to approximately 270 million shares, in its consumer healthcare business, Haleon. This move will reduce GSK’s current 10.3% holding in Haleon, which was spun off and listed on the London Stock Exchange in July 2022. Earlier this year, GSK sold 240 million shares in Haleon, raising around £804 million ($1 billion) and lowering its stake from the initial 12.9% it retained.

The sale of the stake will be determined through an accelerated bookbuild offering process. Haleon, formed in 2019 through the merger of GSK and Pfizer’s consumer healthcare business, is the world’s largest standalone consumer health company. It specializes in the sale of non-prescription drugs, vitamins, and oral care products.

This strategic move by GSK aims to further strengthen its consumer healthcare business and optimize its portfolio. By divesting a portion of its stake in Haleon, GSK can focus on its core pharmaceutical operations while still benefiting from the growth potential of the consumer healthcare sector.

Investors and industry analysts will closely watch the offer price for the stake sale, as it will provide insights into the market’s perception of Haleon’s future prospects. GSK’s decision to sell a portion of its stake demonstrates its commitment to unlocking value for shareholders and driving long-term growth.

With its continued focus on innovation and consumer-centric products, Haleon is well-positioned to capitalize on the increasing demand for over-the-counter healthcare solutions. As the company expands its presence in the global market, consumers can expect a wider range of high-quality healthcare products that cater to their needs.

Overall, GSK’s decision to sell a stake in Haleon represents a strategic move to enhance its business operations and create value for its shareholders. This development highlights the company’s commitment to adapt to changing market dynamics and prioritize its core pharmaceutical business while leveraging the growth potential of the consumer healthcare sector.