GlaxoSmithKline (GSK) has announced that its new independent consumer healthcare company, which will house brands including Sensodyne, Panadol and Centrum, will be called Haleon.

The creation of the company is due ‘successful investments and strategic changes’ to GSK’s consumer health business, the healthcare company said. This includes the integration of the consumer product portfolios from Novartis and Pfizer.

Its brands generated annual sales of around £10 billion in the 2021 financial year, according to GSK.

The company originally set its intention to separate its consumer healthcare business by way of a demerger in June 2021, subject to approval from GSK shareholders.

The demerger is expected to take place in mid-2022, with Brian McNamara as it’s CEO designate, and Sir Dave Lewis as its chair designate.

Mr McNamara said: ‘Introducing Haleon to the world marks another step in our journey to become a new, standalone company. Our name is grounded in our purpose to deliver better everyday health with humanity and to be a world-leader in consumer healthcare.

‘We are on track to launch Haleon in mid-2022 and our business momentum is strong. We look forward to updating investors and analysts more on this at our capital markets event at the end of February.’

Emma Walmsley, CEO of GSK, said: ‘Haleon brings to life years of hard work by many outstanding people to build this new company purely dedicated to everyday health. Haleon has enormous potential to improve health and wellbeing across the world with strong prospects for growth, and through listing will unlock significant value for GSK shareholders.'

It comes after UK regulators recently approved the Novavax Covid vaccine, which GSK supported the manufacture of.

The Novavax vaccine ‘should replace’ Pfizer and Moderna next winter, according to the UK Vaccine Taskforce.