The stock traded up to £2.69 on 24 August, but then dropped to a new low of £2.46 on 5 September. The plaintiff in the first Zantac trial dropped their case voluntarily, according to announcements on 16 August, but the HLN share price continued to decline, closing on 19 August at £2.56. The price rebounded to £3.11 on 2 August, but fell to £2.66 on concerns around the Zantac litigation. The Haleon stock price rose from £3.08 on 18 July to £3.17 on 22 July, but then dropped below the £3 level to £2.92 at the end of the month. However, the drop in the share price since July has seen Haleon’s market capitalisation fall to £25.78bn, as of 3 October, from around £30.5bn when it debuted on the LSE at £3.30 a share. GSK rejected a £50bn offer for Haleon from UK consumer goods giant Unilever in January this year, on the basis that they “fundamentally undervalued the Consumer Healthcare business and its future prospects”. Both GSK and Pfizer had been looking to offload their consumer businesses to focus on prescription medicines and vaccines.īy combining the two businesses, Haleon has become the world’s largest standalone consumer healthcare company. The JV was formed with the intention of spinning off and listing Haleon within three years. Haleon was formed from the consumer healthcare business of GSK, which held a 68% stake, and Pfizer, which held a 32% stake. In this article, we look at the latest news on the company and potential long-term share price forecasts. What is the outlook for the Haleon stock price in 5 years? Haleon, which was formed as a joint venture ( JV) between GSK and US pharmaceutical company Pfizer ( PFE) in 2018, has rejected indemnification claims as neither company sold Zantac in the US or Canada at the time. European and US regulators began to review Zantac's safety in 2018 and US regulators removed it from the market in 2020. GSK and French pharmaceutical company Sanofi ( SNY) sold Zantac at various times from its launch in 1988. The HLN share price initially traded higher but fell in August as investors became increasingly concerned about litigation in the US surrounding heartburn drug ranitidine, branded as Zantac, and claims it contained a probable carcinogen. The listing was the largest in Europe for more than a decade. Haleon stock price in 5 years: What is HLN’s long-term outlook?īritish consumer healthcare firm Haleon ( HLN) was listed on the London Stock Exchange ( LSE) on 18 July as a spin-off from GSK, formerly known as GlaxoSmithKline.US30 US Wall Street 30 (USA 30, Dow Jones)
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