Pfizer to further reduce stake in Haleon, offers to sell 540 million share

Ashleigh Furlong

Pfizer Inc. announced a further reduction of its stake in Haleon Plc, offering to sell about a 5.9% stake in the UK consumer health giant. 
 

The US company intends to sell 540 million Haleon shares, according to a statement on Monday. The stake would be worth about £2.1 billion ($2.8 billion) based on Monday’s closing price, according to Bloomberg calculations.
 

Separately, Haleon will also buy around £230 million worth of its shares from Pfizer at the price set in the share offering, the statement shows. The offering and buyback together would reduce Pfizer’s stake in the maker of Sensodyne toothpaste to 16.2% from 22.6%.
 

 

The deal would add to the $54.1 billion in sales of new and existing shares in European listed companies this year, a 2.3% increase on the corresponding period in 2023, according to data compiled by Bloomberg.
 

Haleon was formed from a combination of GSK Plc and Pfizer’s consumer-health units. The company makes a wide range of products, including Panadol pain relief tablets and Centrum vitamins.
 

In March, Pfizer began trimming its ownership of Haleon, selling more than £2.8 billion worth of shares and American depositary shares in the company. The US firm is not selling any ADS in the current offering, the statement shows. 
 

GSK has also sold down its holdings of Haleon, completing its separation from the consumer health company in May with share sales raising nearly £4 billion in total.