Pfizer has sold its entire stake in Haleon for approximately £2.5 billion ($3.24 billion), marking its complete exit from the consumer healthcare firm it helped create through a 2019 joint venture with GSK.
The stake was offloaded at 385 pence per share to institutional investors and Haleon itself, a bookrunner for the deal announced Wednesday.
Haleon, the maker of Sensodyne toothpaste, Panadol painkillers, and Advil, agreed to repurchase 44 million shares from Pfizer, while 618 million shares were sold to institutional investors. The total sale represented 7.3% of Haleon’s issued share capital.
Haleon was spun off from GSK in 2022, and GSK previously divested its entire stake in May 2024. Following Pfizer’s exit, BlackRock Investment Management (UK) Ltd., a subsidiary of BlackRock, will become Haleon’s largest shareholder with over a 5% stake, according to LSEG data.
BofA Securities, Citigroup Global Markets Limited, and Goldman Sachs International acted as joint global coordinators, while Barclays and Deutsche Numis were joint bookrunners for the sale.
Haleon said in February that its revenue and profit growth for 2025 would be weighted towards the second half of the year.
