Haleon, the consumer healthcare unit spun off by British drugs giant GlaxoSmithKline, began trading on Monday in London's biggest stock market listing for more than a decade. The new independent company – which owns brands including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu – was worth around £30 billion (€35bn). It was the capital's biggest listing since Swiss mining giant Glencore was valued at £38 billion on entry in 2011. Haleon had expected to debut, however, with a market capitalisation of around £40 billion. The demerger overseen by GSK chief executive Emma Walmsley is aimed at allowing the pharmaceuticals group to focus on its core business. Walmsley has faced intense activist shareholder pressure over GSK delays in producing COVID jabs and treatments. "It's day one of our new era and our new purpose: we're now 100% focused on biopharma innovation, uniting science, technology and talent to get ahead of disease together," GSK wrote on Twitter. Haleon meanwhile described its entry onto the London stock market as "the biggest UK listing in a decade". Victoria Scholar, head of investment at Interactive Investor, said the listing was "a win...