Pfizer to Sell Shares in Haleon

(Reuters) – Pfizer intends to sell about 540 million shares in British consumer healthcare company Haleon, a bookrunner said on Monday, reducing the top shareholder’s interest in the Sensodyne maker to 16.2%.

Haleon separately stated that it has agreed to make an off-market purchase of about 230 million pounds ($308.18 million) worth of ordinary shares from Pfizer (NYSE:PFE).

In March, the U.S. pharmaceutical major sold approximately $3.5 billion worth of its stake in Haleon, marking the first such sale since Haleon was spun off from GSK and listed on the London Stock Exchange in 2022.

Pfizer had previously indicated plans to methodically reduce its ownership over a period of months.

In May, GSK raised 1.25 billion pounds from the sale of its remaining stake in Haleon, which was created in 2019 through a merger of GSK and Pfizer’s consumer healthcare businesses.

($1 = 0.7463 pounds)