Haleon Plc HLN, a consumer health company, is reportedly considering divesting some smoking cessation products as part of a strategy to sell non-core businesses.
The company is working with an adviser to find potential buyers for the Nicotinell brand, which includes nicotine gum, patches, and lozenges.
The Nicotinell brand's sale, which draws interest from investment firms and consumer companies, could be valued as high as $800 million.
Previously, Haleon also considered selling its ChapStick lip balm brand, which could potentially bring in about $600 million.
Among the brands owned by Haleon are Centrum, Tums, and Advil.
In July last year, GSK plc GSK completed the demerger of the Consumer Healthcare business to form Haleon.
Also Read: Haleon & Microsoft Intend To Make Health Products More Accessible Via AI Technology.
In January 2022, GSK said that Unilever plc UL tabled three unsolicited, conditional, and non-binding proposals for acquiring its Consumer Healthcare business.
The third proposal on December 20 sought to seal the deal for £50 billion ($68.4 billion).
In May, GSK sold 240 million Haleon shares raising £804 million for the firm, equivalent to up to 2.5% of Haleon's issued share capital.
Following the settlement of the placing, GSK will hold approximately 10.3% of its issued share capital.
Discussions about the sale are ongoing, Bloomberg reported, and no final decisions have been made.
CEO Brian McNamara has been leading efforts at Haleon to streamline the company's extensive portfolio and focus on core products.
Price Action: HLN shares are down 0.98% at $8.28 during the premarket session on the last check Wednesday.
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