GSK plc (LSE/NYSE: GSK) has demerged from its consumer healthcare division to create the publicly-traded company Haleon Group.
Haleon is now one of the world’s largest consumer healthcare companies, while GSK will focus on growing its prescription drug and vaccine businesses.
The company announced the “Haleon” name in February.
In hindsight, GSK would have fared better if it had accepted Unilever’s offer to buy GSK’s consumer healthcare division for £50 billion (about $68 billion). That sum also included £10 billion worth of debt.
In January, GSK rebuffed Unilever’s advances.
Haleon shares are now traded under the ticker HLN on the London Stock Exchange. On the day of opening, HLN shares dropped 3.18% to £316.60
GSK anticipates that Haleon shares will also commence trading on the New York Stock Exchange under the ticker HLN on July 22.