GlaxoSmithKline To List Consumer Healthcare Business 'Haleon' In July

(RTTNews) - GlaxoSmithKline plc (GSK, GSK.L) said Monday that it plans to list Haleon-the newly independent company to be formed following the demerger of the GSK Consumer Healthcare business-in July 2022.

Haleon expects to achieve organic sales growth in the range of 4%-6% for 2022. The adjusted operating margin is expected to benefit from continued strong operating leverage and the realized benefit of price increases during 2021.

The 2022 margin will reflect the contribution from upgraded annual cost synergies resulting from the completed integration of the Pfizer portfolio of about 600 million pounds (100 million pounds higher than previously announced) with about 120 million pounds expected to be delivered in 2022.

On a constant currency basis, Haleon targets annual organic sales growth of 4%-6%; sustainable moderate expansion of adjusted operating margin in the medium term.

As previously announced, Dave Lewis has been appointed as Non-Executive Chair Designate of Haleon.