Pfizer (PFE.US) has sold its entire stake in Haleon (HLN.US) for $3.24 billion.

Pfizer (PFE.US) has sold its entire stake in Haleon (HLN.US) to institutional investors and Haleon for approximately £2.5bn (~$3.24bn), or a transaction price of 385p per share. Under the agreement, Haleon has agreed to repurchase 44mn shares from its largest shareholder Pfizer, with 618mn shares to be sold to institutional investors. The total number of shares sold represents 7.3% of Haleon's issued share capital. Haleon was formed in 2019 through the merger of GSK's consumer healthcare business with Pfizer's consumer healthcare business, and was spun off from GSK in 2022. GSK originally held nearly 13% of the company, but sold its entire stake in May 2024. According to data compiled by LSEG, after Pfizer's sale, BlackRock's subsidiary BlackRock Investment Management (UK) Ltd will become the largest shareholder of Haleon, holding over 5% of the shares. Bank of America Merrill Lynch, Citigroup Global Markets and Goldman International were joint global coordinators, and Barclays and Deutsche Bank were joint bookrunners. Haleon said in February that its revenue and profit growth in 2025 would be concentrated in the second half of this year. As of writing, Haleon was trading 0.49% lower before the market opened, while Pfizer was up 0.19%.