Pfizer sells Haleon, manufacturer of Sensodyne, for $3.9 billion

On Tuesday, Haleon said that Pfizer, a major shareholder in the consumer healthcare sector, sold a nearly $3.9 billion stake, reducing Pfizer's ownership in the British company to 22.6%.

Pfizer had 32% of the company's stock, and GSK was the second-largest stakeholder with 4.2%.

Haleon was formed three years ago by merging the consumer healthcare departments of the pharmaceutical giants Pfizer and GSK.

Pfizer has not sold an interest in the company since its spinoff and listing in 2022. In a "slow and methodical" approach over the course of several months, Pfizer announced last year that it would be reducing its ownership.

At the same time, GSK has sold down its 12.9% interest over the last year, with the most recent transaction being in January.

Pfizer raised approximately $3.9 billion from the sale of 594,000,000 shares at 3.08 P/share and approximately 196.5,000,000 American Depository Shares (ADS) at $7.85 P/share.

Haleon had already announced a sale of 630 million shares on Monday, so this is an increase. The owner of the popular pain reliever Advil and toothpaste Sensodyne recently announced plans to buy back 315 million pounds' worth of Pfizer shares off-market.

As part of the deal, Pfizer's shares will be locked up for 90 days, and the repurchase and stake sale are anticipated to conclude on March 21.

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