News about Brian McNamara

Pfizer has offloaded a £2.43billion stake in Haleon, which in turn said it would buy back £230million of the shares. Haleon, which makes Panadol painkillers and Sensodyne toothpaste, said it had bought the shares at 308p each. The off-market purchase includes 30.1million shares worth around £114.6million which will be cancelled and represent the remainder of the £500million allocated to share buybacks this year.

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Demand for its cough and cold medicines took a hit, and it noted particularly poor performances for its ibuprofen brand Advil in Canada and cold medicines Contac and Fenbid in China. The London-listed group said total revenues in the quarter were down 2pc on a year earlier, at £2.9bn.

Revenues increased by 4.1 percent to £11.3 billion in 2023, compared to 13.8 percent in the previous year. Although the firm's organic revenues increased by 8 percent, it was still suffering from volatile currency movements, mainly from sterling appreciation against emerging market currencies like the Argentine Peso and Chinese Renminbi.

Haleon, the company behind brands like Panadol and Sensodyne, has decided to sell Lip balm brand ChapStick to a US-based private equity firm Yellow Wood Partners for about $80 million, or nearly £63 million in cash, as a result. Brian McNamara, Haleon's chief executive, said that although ChapStick was a well-loved brand by customers, it was no longer a primary concern for the company. 'Selling the brand helps us to streamline our operations and pay down debt more quickly,' McNamara said on Thursday.

Haleon shares dropped on Thursday as the company barely met third-quarter earnings estimates. In North America, the Panadol company, the world's biggest consumer healthcare company, was struggling with poor demand for painkillers, digestive health, and vitamin supplements. Haleon maintained its full-year earnings and revenue estimates, but it took a hit of nearly 3.5 percent on sales and 6 percent to 6.5 percent on adjusted operating income due to currency swings.

Haleon said that annual revenues will now be higher than previously expected thanks to consumers' ability to withstand 7.5% price increases and staying with the Sensodyne and Panadol brand, according to the company. Sales were aided by the easing of Covid curbs in China, which raised demand for its medications, while a flu outbreak hit consumers in this spring.

After forecasting that organic sales would rise by 7 percent to 8 percent this year, the consumer healthcare corporation now expects organic revenues to rise by 7 percent to 8 percent this year.' Adjusted operating incomes would rise by 9 to 11 percent at stable currency rates, according to the company.

Haleon's profits fell just short of analyst estimates in the first quarter as the consumer healthcare behemoth's margins were squeezed by higher costs. The effect was to see adjusted operating margins cut by 90 basis points relative to the same period last year to 23.1 percent, which Haleon also blamed on 'adverse transactional foreign exchange'.

Haleon, the customer health company, was cut off from the pharmaceutical giant GSK in the summer of 2022. Its over-the-counter medications include pain relief, Panadol and Voltaren, cold and flu vaccines, including Day Nurse, Night Nurse and Otrivin, Tums for indigestion, and ChapStick for sufferers of dry lips. Consumers around the world are spending more on their health as populations age and emerging markets become more wealthy. Haleon is in a prime location to benefit from a number of well-known brands, ranging from Beijing to Birmingham. At £3.30, the shares are a buy, but the dividend adds a little more money to the household.

Sensodyne toothpaste and Panadol painkillers reported an 8.3% increase in organic sales to £2.9 billion in the three months to the end of September, the year's so far 16.3 percent higher at £8 billion. According to the company, sales of its cold and flu drugs remained high thanks to seasonal bugs and Covid, with customers also stocking up ahead of winter.

The consumer healthcare corporation, which owns brands such as Sensodyne toothpaste and Panadol painkillers, was spun out of GSK in July and denied that it was not involved in any lawsuit arising from the court fight over Zantac, which was pulled from shelves in 2019 due to fears of a chemical that caused cancer. The firm revealed that in its first results as an independent business, the company saw a double-digit rise in profits.

The company saw revenues climb 14% to £5.19 billion in the six months to June 30th as adjusted operating income increased 12.2% to £1.19 billion. Haleon also told investors on Tuesday that it does not blame for allegations arising from US litigation over heartburn drug Zantac, which has boosted pharmaceutical stocks in recent months.

Haleon's IPO on the London market, after the consumer health issue was removed from GlaxoSmithKline, was supposed to be a major boost to the FTSE100. Among other things, it would have been a clear signal to Masayoshi Son and Softbank that the City will be a safe place to re-float Arm Holdings and achieve the sort of price that its smart chip technology sorely deserves.

Sensodyne toothpaste and Centrum vitamins, the company that makes Sensodyne toothpaste and Centrum vitamins, has warned that it may be in debt for indemnities to GlaxoSmithKline, which is also defunct from last month. The shocking revelation was made after GSK was charged with an pending personal injury lawsuit involving Zantac, a once-popular drug in the United States and the United Kingdom, and the United Kingdom, which was pulled from shelves in 2019 due to allegations that the drug contained a chemical that causes cancer. More than 2,000 cases have been filed in the United States, with the first trial set to begin.