Haleon's $54.2 Million Investment in Richmond R&D Facility: A Strategic Move for Growth and Innovation

Haleon, a leading global consumer health company, has announced a significant investment of $54.2 million to upgrade its research & development (R&D) facility in Richmond, Virginia. This modernization project will enable the company to accommodate innovative technologies and expand its research capabilities, further solidifying its commitment to delivering better everyday health with humanity.

The investment aligns with Haleon's long-term strategic goals, as the company aims to grow its portfolio of leading brands and market categories, targeting sustainable above-market growth and attractive returns. The upgraded R&D Center of Excellence in Richmond will allow Haleon to conduct more advanced research and development, enabling it to better understand consumer needs and develop products that address unmet market demands.

In addition to the physical investments, Haleon and the Commonwealth of Virginia are launching the Haleon-Commonwealth Consumer Healthcare Internship Program for Advanced Life Sciences in partnership with Virginia Commonwealth University. This five-year program will provide paid opportunities for undergraduate and graduate students from Virginia's institutions of higher education, fostering a talent pipeline for the life sciences sector and supporting the company's growth initiatives.

The investment in the Richmond facility reflects Haleon's commitment to the local community and the broader US market. By modernizing its R&D operations, the company is demonstrating its confidence in the region and its dedication to driving innovation and economic growth. This strategic move is expected to bring several long-term benefits to Haleon, including:

1. Talent attraction and retention: The upgraded facility will allow Haleon to attract and retain top talent in the consumer health industry, as employees will have access to state-of-the-art research and development tools and resources.
2. Innovation and product development: With improved research capabilities, Haleon may be able to develop new products and improve existing ones more efficiently, staying ahead of the competition and meeting the evolving needs of consumers.
3. Community engagement and reputation: By investing in the local community, Haleon can enhance its reputation as a responsible corporate citizen, fostering goodwill and support from local residents, businesses, and government officials.
4. Economic growth and job creation: The modernization of the facility may lead to job creation and economic growth in the Richmond area, as Haleon expands its workforce and attracts related businesses to the region.
5. Strategic alignment with state and local initiatives: Haleon's partnership with the Commonwealth of Virginia to co-fund a five-year paid internship program for advanced life sciences students demonstrates the company's commitment to supporting the state's life sciences ecosystem and developing the future workforce.

In conclusion, Haleon's investment in its Richmond facility is a strategic move that aligns with the company's long-term goals and is expected to bring significant benefits, including talent attraction, innovation, community engagement, economic growth, and strategic alignment with state and local initiatives. This modernization project is a testament to Haleon's commitment to delivering better everyday health with humanity and driving growth in the consumer health market.