haleonplc
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2024
Commission File Number: 001-41411
Haleon plc
(Translation
of registrant’s name into English)
Building 5, First Floor, The Heights,
Weybridge, Surrey, KT13 0NY
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
EXHIBIT INDEX
Exhibit Number
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Description
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99.1
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26
June 2024 - “Divestment of NRT business outside of the
US”
|
99.1
Haleon plc: Haleon
to divest nicotine replacement therapy business outside of the US
to Dr. Reddy's
26 June 2024: Haleon
plc ("Haleon") (LSE/NYSE: HLN) announces that it has entered into
an agreement to sell its nicotine replacement therapy ("NRT")
business outside of the US to Dr. Reddy's Laboratories SA, a wholly
owned subsidiary of Dr. Reddy's Laboratories Limited (along with
its subsidiaries together referred to as "Dr. Reddy's") for total
consideration of £500 million (with additional proceeds from
the transfer of inventory). This portfolio consists of brands
including Nicotinell, Nicabate, Habitrol and Thrive available in
gum, lozenge and patch forms across over 30
markets.
The consideration of £500 million is structured as an upfront
cash payment of £458 million, with a further up to £42
million deferred performance-based consideration payable during
2025 and H1 2026. The proceeds from the transfer of inventory will
be received within the same timeframe. Use of the net cash proceeds
will be determined in line with capital allocation priorities,
including reducing leverage. The transaction is subject to
customary regulatory approvals and completion is expected in early
Q4 2024.
This divestment will allow Haleon to exit the NRT category outside
of the US and will reduce complexity across the business allowing
increased focus on strategic growth areas.
The financial results of the NRT business represented net revenue
of £217 million for the financial year ended 31 December 2023.
Assuming completion of the transaction in early Q4 2024, this
divestment is expected to dilute FY 2024 net revenue and adjusted
operating profit by c. 0.5% and c. 1% respectively. All other FY
2024 guidance as shared in the Q1 Trading Statement on 1 May 2024
is unchanged.
Brian McNamara, Chief Executive Officer of Haleon
commented: "The
divestment of Haleon's NRT business outside of the US is a further
example of Haleon being proactive in managing its portfolio and is
consistent with our strategy as we implement change to become more
agile and competitive. Whilst this business has great brands, these
are not core for us, but I'm sure they will continue to flourish
given the focus and capability of Dr Reddy's."
Notes
For the purposes of UK Listing Rule 10.4: (i) for the financial
year ended 31 December 2023, Haleon's net revenue attributable to
the NRT business outside of the US was £217 million and the
profit (as defined in the UK Listing Rules) was £110 million,
which for this purpose excludes directly allocated and central
costs including: dedicated sales, distribution and marketing,
supply chain management, finance operations, and other
administrative central functions; and (ii) as at 31 December 2023,
the NRT business outside of the US had gross assets of
approximately £413 million, including estimated inventory of
£20 million.
Further information
The person responsible for arranging the release of this
announcement on behalf of Haleon is Amanda Mellor, Group Company
Secretary.
Enquiries
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Investors
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Media
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Sonya Ghobrial
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+44 7392 784784
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Zoë Bird
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+44 7736 746167
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Rakesh Patel
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+44 7552 484646
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Gemma Thomas
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+44 7985 175048
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Emma White
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+44 7823 523562
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Email: investor-relations@haleon.com
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Email: corporate.media@haleon.com
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About Haleon's Nicotine Replacement Therapy (NRT) portfolio outside
of the US
Haleon's NRT
business outside of the US is a leader in its category, with a
strong portfolio of international and local brands including
Nicotinell, Nicabate, Habitrol and Thrive. With a long standing
heritage, the brands have built a strong reputation for delivering
consumers with a variety of nicotine replacement solutions and
supporting public health internationally.
About Haleon
Haleon (LSE / NYSE: HLN) is a global leader in consumer health,
with a purpose to deliver better everyday health with humanity.
Haleon's product portfolio spans five major categories - Oral
Health, Pain Relief, Respiratory Health, Digestive Health and
Other, and Vitamins, Minerals and Supplements (VMS). Its
long-standing brands - such as Advil, Sensodyne, Panadol, Voltaren,
Theraflu, Otrivin, Polident, parodontax and Centrum - are built on
trusted science, innovation and deep human
understanding.
For more information, please visit www.haleon.com.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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HALEON PLC
(Registrant)
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Date: June 26,
2024
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By:
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/s/
Amanda Mellor
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Name:
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Amanda
Mellor
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Title:
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Company
Secretary
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