By Ian Walker

GSK said has sold its remaining stake in Haleon for GBP1.25 billion ($1.58 billion), ending its gradual disposal of shares in the company formed by a joint venture with Pfizer in 2019.

The British pharmaceutical company said Friday that it has sold 385.3 million shares in Haleon at 324 pence each as flagged late Thursday. The shares were sold via an accelerated bookbuild and the price is a 2.5% discount to Haleon's closing price of 332.40 pence on Thursday.

GSK has drawn down its stake in Haleon since last May, while U.S. pharmaceutical giant Pfizer reduced its holdings to 22.6% from 32% in March. Haleon was formed in July 2019 from the merger of GSK and Pfizer's consumer-healthcare businesses before being spun off and listed on the London Stock Exchange in July 2022.

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(END) Dow Jones Newswires

05-17-24 0224ET