British pharma giant GSK unveils new logo, spins off consumer health unit

Pharma heavyweight announces transformation as it looks to re-ignite innovation, announces formation of Haleon.

A year after announcing plans for a major overall, British pharma giant has dropped its traditional GlaxoSmithKline name to just GSK, and revealed a tech-inspired logo as it looks to reposition itself. Its latest transformation comes more than two decades after Glaxo Wellcome and SmithKline Beecham to become GlaxoSmithKline. While announcing its major plans, it also revealed that its consumer unit would be spun off into a new company called Haleon. The de-merger, first announced in Jun 2021, will see GSK sell 80% of its 68% stake in the consumer health unit it had shared with Pfizer. Just days before GSK’s big reveal, Pfizer had announced its own plans to sell of its 32% stake in the newly-formed entity “in a disciplined manner” subject to several conditions.

The new GSK as its known, plans to revitalize its prospects so it can see Compound Annual Growth Rate (CAGR) sales growth of more than 5% for 2021-26. The company also aims to see more than 10% adjusted operating profit CAGR for 2021-26. It also has an ambitious target to deliver more than £33 billion sales by 2031. With the consumer health unit separated from the main organization, the projected transformation is expected to be enabled by New GSK’s growth engine, Vaccines and Specialty Medicines, which is expected to grow to around three-quarters of our revenue base by 2026. Haleon is expected to start trading on the London Stock Exchange as of July the 18th. The listing will be the largest on the exchange for over ten years.