This has created a leading global consumer healthcare business, which achieved £9.5 billion in sales during 2021. This transformation has provided a platform to focus, scale and optimise many aspects of the business including divesting lower growth brands, implementing a new R&D/innovation model, rationalising the manufacturing footprint and optimising the supply chain, alongside continued investment in brands, innovation and capabilities. The business has been transformed through the successful integrations of the Novartis consumer health portfolio in 2015 and the Pfizer portfolio in 2019. Haleon has been created from a series of progressive strategic moves to develop the GSK Consumer Healthcare business. Today, we will show investors how our world-class portfolio of brands, alongside our competitive capabilities and a compelling strategy to outperform, underpins our confidence in delivering annual organic sales growth of 4-6% in the medium term, and a sustainable financial performance that can drive continued investment in growth and deliver attractive returns to shareholders.” Led by our purpose - to deliver better everyday health with humanity - Haleon is strongly positioned to play a vital role in a growing, more relevant sector than ever. Through the demerger we will unlock the potential of both GSK and Haleon, and in today’s meeting will show why we believe Haleon will be a strong, highly successful growth-orientated company.”īrian McNamara, Chief Executive Officer Designate, Haleon said: “We are excited to share our plans for Haleon and the incredible opportunity we have before us. Haleon has been built through a series of progressive strategic M&A and divestment moves taken in the last few years, creating a focused, global consumer healthcare business with an exceptional portfolio of brands. It comes ahead of what promises to be the most significant corporate change for GSK in the last 20 years, to create two new growth companies that will positively impact the health of billions of people. Targeting net debt/adjusted EBITDA Initial dividend expected to be at lower end of 30-50% pay-out ratio range (subject to Haleon Board approval).Attractive growth profile and strong cash generation of Haleon expected to support capital allocation priorities to invest in future growth and deliver sustainable returns to shareholders.Haleon expected to deliver moderate sustainable expansion of adjusted operating margin in the medium term.Haleon expected to deliver annual organic sales growth of 4-6% in the medium term.Exceptional portfolio of category-leading brands includes, Sensodyne, Panadol, Advil, Voltaren Theraflu, Otrivin, and Centrum.New company to focus 100% on consumer health, with clear purpose to deliver better everyday health with humanity.Demerger and listing of Haleon expected in July 2022.Issued: London, UK Global leader in consumer health set to be a newly independent company with focused strategy to deliver sustainable above-market growth and attractive returns to shareholders
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