Pfizer Sells Entire Haleon Stake For $3.24 Billion

Pharmaceutical company Pfizer (PFE.N) has divested its complete investment in Haleon (HLN.L) for approximately 2.5 billion pounds ($3.24 billion) to institutional investors and the consumer healthcare company at 385 pence per share, a book-runner involved in the transaction reported on Wednesday. As per the agreement, Haleon, the producer of Sensodyne, has consented to repurchase 44 million shares from Pfizer, which is its biggest shareholder at present, while 618 million shares will be offered to institutional investors.

Pfizer exits Haleon with $3.24B

The overall sale accounts for 7.3 per cent of Haleon's issued share capital, which resulted from the 2019 merger of GSK and Pfizer's consumer healthcare divisions. It was separated from the British pharmaceutical company in 2022. GSK (GSK.L) opened a new tab, which formerly held almost 13 per cent of the company, and divested its complete share in May 2024. After Pfizer's divestiture, BlackRock Investment Management (UK) Ltd, a division of BlackRock (BLK.N), opens a new tab and is set to become Haleon's largest shareholder with over a 5 per cent stake, per data gathered by LSEG.

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BofA Securities, Citigroup Global Markets Limited, and Goldman Sachs International served as joint global coordinators, whereas Barclays and Deutsche Numis acted as joint bookrunners for the equity offering. Haleon, the producer of Panadol and Advil pain relievers, stated in February that its revenue and profit growth for 2025 would be skewed towards the latter half of the year.