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Posted On: 07/17/2022 3:45:03 PM
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British drugs giant GlaxoSmithKline demerges its newly-named consumer healthcare unit Haleon, resulting in what is set to be London's largest new stock market listing in more than a decade.
The new company -- owning brands including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu -- is set for a valuation of about £40 billion ($47.4 billion) when it begins trading on the London stock market, according to Bloomberg.
The major strategy shift by GSK chief executive Emma Walmsley comes after she has faced intense activist shareholder pressure over the company's delays in producing Covid jabs and treatments. — AFP
British drugs giant GlaxoSmithKline demerges its newly-named consumer healthcare unit Haleon, resulting in what is set to be London's largest new stock market listing in more than a decade.
The new company -- owning brands including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu -- is set for a valuation of about £40 billion ($47.4 billion) when it begins trading on the London stock market, according to Bloomberg.
The major strategy shift by GSK chief executive Emma Walmsley comes after she has faced intense activist shareholder pressure over the company's delays in producing Covid jabs and treatments. — AFP
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