Haleon shares tumble as weak flu medicine demand, China woes prompt outlook cut
HLN•Haleon cut its 2026 organic revenue growth forecast to around 2.5%, below its previous 3%-5% range, after third-quarter revenue missed expectations. Shares fell as much as 17% as weak cold and flu medicine demand and halted Centrum imports to China weighed on results.
1. Outlook reduced
Haleon forecast 2026 organic revenue growth of around 2.5%, below the bottom of its previous 3%-5% outlook and analyst predictions of 3.2%. The company said weak demand for cold and flu medicines and a regulatory setback in China contributed to the cut.
2. China and seasonal pressures
A change in raw material classification forced Haleon to suspend imports of Centrum multivitamins to China and make portfolio changes. CEO Brian McNamara told investors the company did not see a short-term solution and did not necessarily see one in 2027.
3. Difficult choices ahead
McNamara warned staff the company would need to make difficult choices about where to focus investment. Haleon said North American orders were hit, while a delayed flu season and consumers seeking more value weighed on categories including vitamins, minerals and supplements in Europe.
