Advil Owner Haleon Said to Mull Sale of Nicotine Gum Business

Consumer health giant Haleon Plc is exploring a potential divestment of some smoking cessation products as it seeks to offload non-core businesses, people familiar with the matter said.

Haleon is working with an adviser to identify potential suitors for the Nicotinell brand of nicotine gum, patches and lozenges, according to the people. The business is attracting interest from both investment firms and consumer companies and could be worth as much as $800 million in a sale, they said.

Haleon, which was spun off from GSK Plc last year, has a market value of about £29.6 billion ($37.5 billion). Deliberations are ...