Global pharmaceutical giant Pfizer (PFE.N) has completed the sale of its entire stake in consumer healthcare firm Haleon (HLN.L) for approximately £2.5 billion ($3.24 billion). The transaction, conducted at 385 pence per share, involved both institutional investors and Haleon itself, according to a bookrunner for the deal.
As part of the agreement, Haleon, the maker of Sensodyne, has repurchased 44 million shares from Pfizer, its former largest shareholder, while an additional 618 million shares were sold to institutional investors.
Haleon was established in 2019 through the merger of consumer healthcare businesses from GSK (GSK.L) and Pfizer and later spun off from GSK in 2022. The sale of Pfizer’s 7.3% stake follows GSK’s decision to divest its entire holding in May 2024.
Following this transaction, BlackRock Investment Management (UK) Ltd, a subsidiary of global investment firm BlackRock (BLK.N), is set to become Haleon’s largest shareholder, holding more than a 5% stake, according to data from LSEG.
The share sale was coordinated by BofA Securities, Citigroup Global Markets Limited, and Goldman Sachs International, with Barclays and Deutsche Numis acting as joint bookrunners.
Haleon, which also manufactures Panadol and Advil painkillers, previously announced in February that its revenue and profit growth for 2025 would be weighted toward the second half of the year.
With this strategic divestment, Pfizer has now fully exited its investment in Haleon, allowing the consumer healthcare company to reshape its shareholder base as it moves forward.
