Biotech Values

[DewDiligence]

GSK’s spun-off consumer-health business, Haleon, began trading today on the London exchange as ‘HLN.L’:

https://www.cnbc.com/2022/07/18/gsk-spins-off-haleon-in-biggest-european-listing-for-a-decade.html

British drugmaker GSK spun off its consumer health business on Monday in the biggest listing in Europe for more than a decade.

The new company, Haleon, becomes the world’s biggest standalone consumer health business, home to brands including Sensodyne toothpaste and Advil painkillers.

Shares in Haleon started trading at 330 pence on Monday morning, giving the business a market valuation of around 30.5 billion pounds ($36.4 billion), according to Reuters calculations.

... With the split complete, all GSK shareholders receive one Haleon share for each GSK share they own.

Pfizer will retain its 32% stake in Haleon, which it intends on selling off over time. GSK will hold up to 13.5% in Haleon, while the remaining 54.5% will be owned by GSK shareholders.