Pfizer Sells Remaining 7.3% Stake in Haleon for Around 3.3B

Core Viewpoint - Pfizer has fully divested its stake in Haleon, selling approximately 662 million shares for around $3.3 billion, marking its exit from the consumer health sector [1][2][3]. Group 1: Pfizer's Divestment Details - Pfizer sold 618 million ordinary shares of Haleon to institutional investors for about$3.1 billion, and an additional 44.14 million shares worth approximately $220 million directly to Haleon [2]. - The sale price for Haleon shares was £3.85 per ordinary share, totaling around £2.5 billion for the shares sold to institutional investors [1]. Group 2: Haleon Background - Haleon was formed as a consumer health joint venture between Pfizer and GSK in 2019, with GSK holding a controlling stake of 68% [3]. - GSK divested its entire stake in Haleon in May 2024, while Pfizer had been gradually reducing its stake since 2022, originally holding 32% [3]. Group 3: Market Impact - Following Pfizer's divestment, BlackRock Investment Management became Haleon's largest shareholder with a 5% stake [4]. - Haleon's stock has increased by 24.5% over the past year, outperforming the industry average increase of 9.5% [6]. Group 4: Industry Trends - Several large drugmakers, including J&J and Sanofi, have been divesting their consumer health divisions to refocus on their core pharmaceutical businesses [7][8]. - J&J separated its Consumer Health business into Kenvue in 2023 and fully exited its stake in mid-2024 [7]. Sanofi plans to create a publicly listed entity called Opella for its Consumer HealthCare unit, with a transaction expected to close in Q2 2025 [8].