By Ian Walker
Pfizer has sold 700 million shares in British consumer-healthcare business Haleon for 2.50 billion pounds, equivalent to US$3.05 billion, it said in a statement.
The U.S. drugmaker said Wednesday that it sold the shares at 357 pence each, which represents a 2.75% discount to Tuesday's closing price of 367.10 a pence.
Pfizer announced late Tuesday that it was selling the shares via a bookbuild process. Following the sale, the company's shareholding will decrease to 7.3% of Haleon's issued share capital, down from 15%.
Haleon--which owns brands such as Sensodyne toothpaste, Aquafresh mouthwash and over-the-counter medicines Panadol and Advil--was formed in July 2019 through the merger of GSK and Pfizer's consumer-healthcare businesses. It was subsequently spun off and listed on the London Stock Exchange in July 2022.
GSK sold its remaining stake in Haleon on May 16, 2024.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
01-15-25 0257ET