This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Haleon PLC conducts animal testing as part of its research and development for consumer healthcare products, including over-the-counter medicines and oral health brands. The company’s published position states that animal studies represent a “very small part” of its R&D, but it continues to use animals where required by regulatory authorities for product safety or efficacy claims. Haleon’s portfolio includes brands such as Sensodyne, Advil, Centrum, and Voltaren, categories for which animal data is often a regulatory submission requirement in major markets. This ongoing use of animals in testing places the company within the commercial exploitation of animals for product development.
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.