<div id="readability-page-1"> <time datetime="2026-04-29T12:09:23+01:00"> Wednesday 29 April 2026 12:09 pm </time> <div> Add as a preferred source on Google </div> <figure> <div> </div> <img width="742" height="495" src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2025/02/013-haleon.jpg/query-dz03NDI?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://www.cityam.com/wp-content/uploads/2025/02/013-haleon.jpg/query-dz03NDI"/> <figcaption>Haleon said first quarter sales suffered from a soft flu season</figcaption> </figure> After being spun out from GSK in the biggest London IPO in decades, City analyst are looking for more from the emblematic FTSE 100 consumer healthcare powerhouse with roots in a Lombard Street apothecary shopFewer sniffles during the winter have sent a chill through sales volumes at Haleon, the FTSE 100 over-the-counter remedy maker.The owner of the Nurofen and Day Nurse brands revealed the impact of what it called a “weak cold and flu season” on its sales volumes today. First-quarter sales volumes were down 0.2 per cent overall after a 1.3 per centage point “impact” in the period from a “double-digit decline in cold and flu products”.Overall organic revenue growth reached 2.2 per cent, with “with price up 2.4 per cent” Haleon said. Its oral health business had “strong momentum” helped by Sensodyne toothpaste. That left the firm on track to meet its full-year guidance.<h2 id="h-city-emblem">City emblem</h2>Haleon is emblematic of the City’s recent fortunes. It was spun out of fellow FTSE 100 constituent GSK in 2022 in a blockbuster initial public offering.The IPO was the biggest in Europe for a decade at the time. It freed up Haleon’s former parent to concentrated on drug development and released billions in shareholder value by putting a range of consumer healthcare brands into the new stand-alone company.<figure></figure>It now has a market value of around £31bn.But City analysts point out that there is more potential to be unlocked.Chris Beckett, consumer staples analyst at Quilter Cheviot, said: “Haleon has a strong performing asset in Sensodyne toothpaste, which increased sales an impressive 10 per cent. “The latest quarter also saw a return to growth in North America. While only at 1 per cent growth it is nothing to shout about, but nevertheless it is a positive trend that will hopefully build throughout the year.“The problem for Haleon is that it is only firing on two cylinders and its other categories aren’t doing as well as they could or should be doing. “The long-term tailwinds around consumers increasingly self-medicating remain in place, but its brands should be doing better.”The United States is the biggest market for some of the firm’s main brands. London-listed companies generating revenue in the US have been linked with speculation that shifting their primary stock listings to New York could boost valuations.Haleon had a multi-billion dollar joint venture with Pfizer covering its healthcare brands, which was launched in 2018. It ended with the IPO.<h2 id="h-from-lombard-street-to-the-world">From Lombard Street to the world</h2>Haleon’s London roots are deep. It traces them to a medicaments shop set up in Plough Court, off Lombard Street in the heart of the City, by the Quaker apothecary Silvanus Bevan.Its modern-day line up includes a range of household names, from Centrum vitamin supplements to Voltaren pain relief gel, alongside cold relief brands like Theraflu and Panadol.Reported revenue in the first quarter to the end of March hit £2.9bn, up 0.1 per cent.Bevan’s latest successor, Brian McNamara, chief executive, said today: “We delivered a competitive performance in a challenging market, with North America returning to growth and oral health again performing strongly, with innovation and geographic expansion driving double-digit growth in Sensodyne.“This was tempered by a weak cold and flu season.”Haleon’s name is formed from “hale”, a synonym for healthy and “leon”, a nod to the Latin word for lion.In a major strategic move, it has taken its toothpaste brands to India, where they are sold more cheaply, in package sizes designed to last about a week. It has helped make the country the second-biggest market for Sensodyne to the United States.Its shares were down 3 per cent at 341p on Wednesday after the update, leaving them down over 5 per cent in the last year, but above the 330p per share price of its initial public offering four years ago.High profile hedge fund Marshall Wace, co-founded by GB News backer Paul Marshall, disclosed a short position in Haleon in May 2024.It was the first public bet that the stock would fall. At the time, the shares were trading around their peak, at 419.5p. Quilter Cheviot’s Beckett concluded: “If everything was sharper, it would add up to a much better growth figure and a more attractive narrative for investors. “Haleon isn’t a million miles away from being a very good story, but it needs more than the toothpaste business to start performing.” </div>

Haleon reported a decline in first-quarter sales due to a weak cold and flu season, with overall sales volumes down 0.2%. However, organic revenue grew by 2.2%, driven by a 10% increase in Sensodyne toothpaste sales. Analysts suggest that while Haleon has strong potential, it needs to improve performance across other product categories. The company, spun out from GSK in 2022, has a market value of approximately £31bn. Despite challenges, Haleon remains on track to meet its full-year guidance, with North America showing signs of growth.

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Haleon takes hit from ‘weak cold and flu season’ but Sensodyne shines