Pfizer to sell USD 3 billion stake in Haleon
Pfizer will lower its stake in Haleon from 15 percent to about 7.3% by selling shares worth 2.50 billion pounds ($3.05 billion) in the British consumer healthcare company, JPMorgan said.
The sale represents nearly 7.7% of Haleon's issued share capital. Haleon was formed in 2019 through a merger of the consumer healthcare businesses of GlaxoSmithKline (GSK) and Pfizer. Haleon was established in 2022 as a corporate spin-off from GSK.
The sale of 700 million Haleon shares at 357 pence apiece is a discount of about 2.8% to the stock's closing price on Tuesday, Reuters reported.
Shares in the maker of Sensodyne, Panadol and Advil, which gained 17% in 2024, were up 0.7% at 369.7 pence in morning trade on Wednesday, in line with the broader FTSE 100.
The sale represents nearly 7.7% of the issued share capital of Haleon, which was created by the merger of GSK and Pfizer's consumer healthcare businesses in 2019. It was spun off from the British drugmaker in 2022.
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