RE: Times article today7 Feb 2024 08:23
The quote is from last year Times article. it talks about Haleon being interested in acquisition. It also talks about the consumer health sector being ripe for consolidation:
“Haleon is yet to make any acquisitions, although last month it agreed to licence the rights to exclusively commercialise an erectile dysfunction gel treatment in the US from Futura Medical, an Aim-quoted company.
McNamara says there are “a list of opportunities where we see brand market combinations where we can strengthen our footprint in a particular market, maybe where for historical reasons we don’t have a strong presence in pain or in respiratory health. VMS [vitamins, minerals and supplements] is an interesting category and if the right assets come up, we’d certainly be open to that.”
Johnson & Johnson spun-off Kenvue, its consumer health business, in May with a listing that valued the owner of Neutrogena shampoos and Johnson’s babycare products at about $48 billion and made it the biggest initial public offering in New York since 2021. Last month analysts at Bernstein speculated about the possibility of Bayer, the German group under a new chief executive, considering strategic options for its consumer business. And Bloomberg reported in January that Haleon was in the early stages of evaluating possible large deals for the medium to long term, including a combination with Sanofi’s consumer business.
Again, McNamara won’t talk specifics, but will say that “it’s a fairly unconsolidated industry so you would expect there’d be consolidation over time. The question is what’s that time frame look like? And I think that’s what’s hard to predict. It’s not necessarily important that we’re part of some industry consolidation; it only matters if it really would create value.”
https://www.thetimes.co.uk/article/brian-mcnamara-my-rollercoaster-debut-year-at-haleon-kvbzp833c
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