After the spinoff, at least 54.5% of Haleon's total issued ordinary share capital would be held by GSK shareholders and 6% would be held by GSK, the company said. Following the split, GSK will focus on pharmaceuticals and vaccines and can no longer rely on steady consumer health revenue to offset some of the unpredictability of drug development. Under pressure from shareholders such as activist investor Elliot, GSK has sought to shore up its drug pipeline.