Pfizer pares back Haleon stake in £2.5bn sale
By Abigail Townsend
Date: Wednesday 15 Jan 2025
(Sharecast News) - Pfizer has further reduced its holding in Haleon, it was confirmed on Wednesday, after the drugs giant offloaded 700m shares in a £2.5bn sale.
The Wall Street firm sold the stock at 357p per ordinary share, raising around £2.5bn and reducing its 15% stake to 7.3%.
The British consumer healthcare firm - which owns Sensodyne toothpaste, Centrum vitamins and Tums, among others - was originally part of pharmaceuticals firm GSK.
It was formed through the integration of Novartis' consumer healthcare portfolio in 2015 and Pfizer's in 2019.
It was spun out of GSK, then called GlaxoSmithKline, in a blockbuster 2022 listing. GSK took a 13.5% stake in the blue chip, while Pfizer retained its 32% holding in the business.
However, the firm behind the Comirnaty Covid-19 vaccine has since started reducing its position, including a £2.4bn sale last autumn.
GSK has also been selling down its holding, and offloaded its remaining 4.2% stake in May last year
Shares in Haleon ticked up 1% as trading got underway on Wednesday, to 370.2p.
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