Pfizer: Haleon shareholding to be reduced to 24%

(CercleFinance.com) - Haleon announced on Monday that its main shareholder, the US pharma giant Pfizer, would be reducing its stake in the British consumer healthcare group.


The owner of the Advil, Sensodyne, Voltaren and Polident brands announced this morning that Pfizer intends to reduce its stake through a placement of 630 million shares, in a transaction worth around $2.5bn at current share prices.

Haleon has committed to repurchasing some $400m of this amount.

Following the placement, Pfizer will remain Haleon's largest shareholder, with a stake of around 24%, compared with 32% previously.

The US pharmaceutical giant had become the owner of a stake in Haleon following the combination, in 2019, of its OTC business with GSK's, a joint venture that the latter had decided to take public in 2022.

On the New York Stock Exchange, Pfizer shares were down 1% in early trading on Monday morning.


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