For simplicity there is no error handling etc and following simple code does the trick:
Sub createsheets()
Dim newsheet As Worksheet
Dim r As Integer
r = 1
Do While Sheets("Sheet1").Cells(r, 1).Value <> ""
Set newsheet = Sheets.Add
newsheet.Name = Sheets("Sheet1").Cells(r, 1).Value
r = r + 1
Loop
End Sub
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