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Pfizer to cut stake in Sensodyne toothpaste-maker Haleon to 24%


1 week ago 19
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(Reuters) -Consumer healthcare firm Haleon said on Monday that U.S. drugmaker Pfizer will sell down its stake in the company to about 24%.

Pfizer, which currently holds a 32% stake in Haleon, said last year it planned to cut its ownership in a "slow and methodical" manner within months.

The offer price per share is expected to be announced on or around March 19, following the completion of a book-building process, Haleon said in a statement.

The sale of 630 million shares would be worth about 2.03 billion pounds ($2.58 billion), according to Haleon's Friday closing price.

Haleon, which makes household brands such as Sensodyne toothpaste and Advil painkillers, was spun out of British drugmaker GSK in July 2022. It was formed in 2019 by merging GSK and Pfizer's consumer healthcare businesses.

GSK has since sold down its stake in the company, with the last sale in January bringing down its shareholding to 4.2% from the 12.9% it initially retained in t...

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