Sales are down: Haleon has sold fewer products this year
Haleon, maker of Panadol and Advil, has sold fewer products this year as it feels the impact of a less severe cold and flu season.
Demand for its cough and cold medicines suffered, and it saw particularly poor results for its ibuprofen brand Advil in Canada and cold medicines Contac and Fenbid in China.
The London-listed group said total revenue in the quarter fell 2 percent from a year earlier to £2.9 billion.
Chief Executive Officer Brian McNamara said that while the first quarter was “solid,” it was affected by “difficult comparatives.”
Share in the company, which was spun off from pharmaceutical giant GSK in 2019, fell 2.5 per cent, or 8.5p, to 331p.
The trading update came a day after it said around 436 jobs will be cut by 2026 following the closure of its Maidenhead site, which makes Sensodyne toothpaste.
Haleon has been on a £300m-a-year cost-savings programme.