Split from GSK, Haleon seeks to solidify consumer healthcare leadership

The Korea Times

The Korea Times

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Tue, November 28, 2023 | 19:47

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Split from GSK, Haleon seeks to solidify consumer healthcare leadership

Posted : 2022-07-19 16:34

Updated : 2022-07-20 11:05

Seen is an image with logo of Haleon. Courtesy of Haleon

Brian McNamara, CEO of Haleon / Courtesy of Haleon

By Baek Byung-yeul

Consumer healthcare company Haleon was officially launched on Monday (U.K. time) after completing its spinoff from GSK, its Korean unit said Tuesday.

Haleon is a global leading company in the consumer healthcare markets of 170 countries, selling numerous well-known brands such as Advil, Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident, Parodontax and Centrum.

Under the mission of "deliver better everyday health with humanity," the company was officially listed on the London Stock Exchange (LSE) on July 18 with an opening ceremony to signal the start of trading. The company will also be listed on the New York Stock Exchange (NYSE) market on July 20 (local time).

"With an increased consumer focus on health and wellness, an aging global population, an emerging middle class in high-growth economies, growing self-care in the face of increased pressure on public healthcare systems and sizeable unmet consumer needs, Haleon has launched at a time when the consumer healthcare market is set for expansion," the company said in a statement, adding it "expects to deliver medium-term annual organic revenue growth of 4 percent to 6 percent."

The brands within the Haleon portfolio have been providing treatment and improving the quality of life for millions of consumers around the world for decades.

Shin Dong-woo, head of Haleon's Korean unit / Courtesy of Haleon

Despite the significant advances in medical technology, Haleon sees that there are still many people who lack access to daily healthcare, so it plans to extend more opportunities for 50 million people to improve their everyday health by 2025.

"This is a significant milestone for Haleon. Guided by our clear purpose and with a world-class portfolio of brands that people know and trust, we stand ready to help address consumer needs and make better everyday health more achievable, inclusive and sustainable," Brian McNamara, CEO of Haleon, said in a statement.

"Consumer health has never been more important than it is today, and I am delighted that Haleon, as an independent company, is ready to pursue our ambitions. Today follows a huge amount of effort, planning and collaboration by our dedicated colleagues all around the world."

Shin Dong-woo, head of Haleon's Korean unit, said the Korean branch "will also focus on leading Korea's consumer healthcare market under Haleon's new vision."

"We will further expand the business of the Korean unit, which is showing continuous growth, and spread the need for daily health promotion in communication with consumers," Shin said.

baekby@koreatimes.co.kr