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  • Pfizer divests USD 3.5...

Pfizer divests USD 3.5 billion stake in Haleon

Ruchika SharmaWritten by Ruchika Sharma Published On 2024-03-21T14:10:50+05:30  |  Updated On 21 March 2024 2:10 PM IST
Pfizer Gets CDSCO Panel Nod To Conduct Phase III Trial of RSV Vaccine in India, Told to Clarify Subject CriteriaPfizer
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Sensodyne-marker Haleon has said that Pfizer, its top shareholder, divested approximately a $3.5 billion stake in the consumer healthcare firm, reducing its ownership in the British company to 22.6%. Previously, Pfizer held a 32% stake, while the second-largest shareholder, GSK, held a 4.2% stake.

This marks Pfizer's first stake sale in Haleon since the company's inception in 2022, following its spin-off from GSK and subsequent listing. Last year, Pfizer announced its intention to gradually decrease its ownership in a "slow and methodical" manner over the course of months.

Meanwhile, GSK, which initially held a 12.9% stake, has been reducing its stake over the past year, with the most recent sale occurring in January.

In terms of numbers, Pfizer sold 594 million shares at a price of £3.08 apiece and approximately 196.5 million American Depository Shares (ADS) at $7.85 each, totaling around $3.1 billion. This figure is higher than the 630 million share sale disclosed by Haleon on Monday. Additionally, Haleon announced plans to repurchase £315 million ($399.92 million) worth of shares from Pfizer through an off-market transaction.

The stake sale and buyback are slated to conclude on March 21, with Pfizer's shares being subject to a 90-day lock-up period in connection with the sale, reports Reuters.

($1 = 0.7876 pounds)

Read also: GSK raises USD 1.24 billion from latest Haleon stake sale

pfizerpfizer newshaleonhaeon newsGSK
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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