BRIEF—GSK pockets $1billion on sale of Haleon shares

UK pharma major GSK has sold 240 million shares in its consumer healthcare spinoff business Haleon at 335 pence per share, raising about £804 million ($1 billion), the company said.

Haleon, the world's biggest standalone consumer health company, comprising assets from GSK and US pharma giant Pfizer, sells non-prescription drugs, vitamins and oral care products.

The sale price represents a 2.3% discount to Haleon's closing price of 342.85 pence on Thursday and lowers the stake of GSK, the second-largest shareholder, to 10.3%, about 955 million ordinary shares.

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

Pfizer has also said it would start a “slow and methodical” exit of its 32% stake in Haleon in the coming months.