Words by GOLD newsdesk
The demerger of GSK's consumer healthcare business has been completed by the pharma giant, with the new company Haleon becoming the world's biggest standalone consumer health business.
Haleon Group was listed on the London Stock Exchange as of 8am on 18 July 2022, and the company's "regular-way" trading on the New York Stock Exchange is expected at market open on 22 July 2022.
According to Reuters, Haleon's market valuation sits at around £30.5bn, with shares starting trading at 330p.
GSK itself is set to focus its efforts on developing as a vaccines and speciality pharmaceuticals company.
In recent weeks, GSK has completed the acquisition of biopharmaceutical company Sierra Oncology, which is focused on targeted therapies for the treatment of rare forms of cancer; shared promising data for various products in development, including the chronic hepatitis B treatment bipirovirsen and the Sanofi-GSK COVID-19 vaccine; and has announced £1bn R&D investment over 10 years to support the progression of 30 potential new vaccines and medicines targeting 12 high-burden infectious diseases in lower-income countries.