Future Of British Business
GSK’s Consumer-Health Arm Tripped Up by Inflation Woes in Debut
- The split comes after pressure from activist investor Elliott
- Listing is one of few bright spots in bleak UK equity market
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GSK Plc spinoff Haleon slipped in its London trading debut as market turmoil and inflation concerns weighed on Britain’s newest consumer goods giant.
The maker of Panadol painkillers and Sensodyne toothpaste opened at 330 pence on Monday, valuing the business at around £30 billion ($36 billion). The stock traded as high as 337.40 early in the day, before giving up the gains and closing 6.6% lower.