Haleon was created through a joint venture between GSK and Pfizer, the American drugs powerhouse, in December 2018. Shifting the portfolio towards higher-growth brands has provided a boost to the rate of sales growth. The share of sales driven from the group's nine multinational power brands — Panadol, Voltaren and Centrum among them, which together have higher revenue growth than the overall company and generally higher gross margins — has increased from 44 per cent in 2015 to 58 per cent last year.