Pfizer to exit Haleon

Bengaluru: Pfizer will divest its remaining stake in Haleon, marking its complete exit from the British consumer healthcare group.

As part of the transaction, Haleon, known for household brands like Sensodyne toothpaste, has agreed to buy back shares worth $220 million from Pfizer.

Pfizer will sell approximately 662 million ordinary shares, or 7.3 per cent, of Haleon, Reuters reported.

Haleon was formed in 2019 through a merger of GSK and Pfizer's consumer healthcare businesses. It was spun out and listed on the London Stock Exchange in July 2022.

In May, British pharmaceutical company GSK had raised £1.25 billion ($1.52 billion) by selling its remaining stake in the consumer healthcare firm Haleon to institutional investors. GSK had said total proceeds from sales of its Haleon holdings - four in just over a year - stood at 3.9 billion pounds.

Read also: GSK raises USD 1.5 billion from sale of remaining Haleon stake

In March 2024, Pfizer had divested approximately a $3.5 billion stake in the consumer healthcare firm, reducing its ownership in the British company to 22.6%.

Read also: Pfizer divests USD 3.5 billion stake in Haleon

Following Pfizer's disposal, BlackRock Investment Management (UK) Ltd, a unit of BlackRock , will become Haleon's largest shareholder with over a 5% stake, according to data compiled by LSEG.