Pfizer reportedly raises $3.3B from sale of remaining Haleon stake

Pfizer reportedly raised about £2.55 billion ($3.3 billion) through the sale of its remaining 7.3% stake in Haleon, ending a years-long separation with the company, per Bloomberg and Yahoo Finance reports.

Pfizer reportedly offered about 618 million shares through a placement with investors, according to a Wednesday statement. The shares priced at £3.85 apiece, a 1.6% discount to Haleon’s closing price on March 18, it said. Investor demand exceeded the size of the offering by multiple times, terms on Tuesday showed, per the report.

Pfizer also sold around £170 million worth of shares back to Haleon in an off-market share repurchase transaction. Haleon shares were down 0.2% as of 8:38 a.m. in London on March 19 after fluctuating narrowly, the report said.

[Related: GSK raises $1.5B from sale of remaining Haleon stake]

Haleon was formed in 2022 from a combination of GSK and Pfizer’s consumer-health units. Pfizer has been cutting down its stake in Haleon, most recently raising £2.5 billion through a block trade in January. The New York-based company has said for years that it planned to exit the Haleon stake. Meanwhile, GSK had previously sold down its holdings of Haleon, completing its separation from the consumer health company last year, the report noted.

[Read more: GSK’s proposed health spinoff to be named Haleon]