BRIEF—Pfizer to sell part of its stake in Haleon

UK consumer health company Haleon announced that US pharma giant Pfizer intends to sell around 630 million Haleon ordinary shares, taking its interest down to 22.6% from 32%.

Pfizer’s sale of 630 million Haleon shares will net it around £2 billion ($2.5 billion).

Haleon has also agreed to buy back 102.2 million ordinary shares from Pfizer off-market for around £315 million.

Haleon was spun out of GSK in July 2022, with the UK drugmaker’s shareholders awarded stock in the new business amounting to the majority of its 68% stake.

GSK has already sold 240 million shares of Haleon, pocketing around $1 billion.