GlaxoSmithKline’s soon-to-be-spun-off consumer health arm will be named Haleon, the British drugmaker said Tuesday.
The company added that the consumer business, a joint venture it runs with Pfizer, is on track to de-merge and list as a new company by mid-2022, subject to approval from shareholders.
The announcement comes after GSK last December rejected multiple bids by CPG giant Unilever to buy the consumer unit, the last one for $68 billion. Before that, in June, the company unveiled plans to divest the unit via a de-merger of at least 80% of the 68% stake it currently owns. Pfizer owns the remaining 32%. The two companies combined their consumer health businesses in 2018.
The unit, which houses such brands as Sensodyne and Voltaren, had sales of £9.6 billion ($13.0 billion) last year. More details, GSK said, will be shared at an investor event later this month.
According to GSK’s statement, the new brand identity seeks to bring to life the company’s purpose and growth ambitions. Pronounced “Hay-Lee-On,” the name represents a merging of the words “Hale” (Old English for “in good health”) and “Leon,” associated with “strength.”
The branding was developed with input from employees, HCPs and consumers, GSK said. It will be deployed in more than 100 markets around the world where the business operates.