Pfizer has sold a substantial stake in consumer health care group Haleon, cutting its shareholding in the maker of Centrum vitamins and Advil painkillers from 22.6% to 15%.
Pfizer announced its intention to sell approximately 540 million ordinary shares in Haleon, worth about $3.26 billion, in a notice to the London Stock Exchange yesterday.
Haleon, created by the merger of Pfizer and GSK's consumer health care businesses in 2019, was spun off from the British drugmaker in 2022, creating the world's largest consumer health business.
Since then, both GSK and Pfizer have been slowing backing away from their stakes in Haleon. Back in January, GSK sold off 300 million shares in Haleon, collecting approximately $1.24 billion, leaving the drugmaker with a 4.2% stake. Pfizer followed suit in March, reducing iits stake in Haleon from 32% to 24% by selling 630 million shares, valued at about $2.6 billion, in a public offering.