Pfizer Sold Its Stake In Sensodyne-Maker Haleon For $3.5 Billion

(CTN News) – Haleon said on Tuesday that the company’s top shareholder, Pfizer, had offloaded a stake in the company worth about $3.5 billion, bringing the company’s stake to 22.6% from the previous 25.8%.

In terms of stakes, Pfizer currently owns approximately 32% of the company, followed by GSK, which holds about 4.2% of the company.

THE IMPORTANCE OF THIS

In fact, this is Pfizer’s first stake sale in Haleon since the company was spun off from GSK and listed on the stock market in 2022 – three years after being formed by combining the consumer healthcare business units of the two pharma giants. Earlier this year, Pfizer announced that it would be cutting its ownership of the company in a “slow and methodical” manner in the coming months.

As for GSK, which originally held a 12.9% stake in the company, it has sold it down over the last year, with the most recent sale happening in January.

THE NUMBERS ARE IN

It is estimated that Pfizer sold 594 million shares at a price of 3.08 pounds per share and about 196.5 million American Depository Shares (ADS) at a price of $7.85 per share, which put the total amount sold at roughly $3.1 billion.

In terms of share sales, this is higher than the 630 million shares Haleon disclosed on Monday. Sensodyne, the maker of Sensodyne toothpaste and Advil painkillers, has also announced it will be repurchasing off-market 315 million pounds ($399.92 million) of shares from Pfizer as part of the deal.

WHAT IS NEXT FOR US?

Pfizer’s stake sale and buyback are expected to close on March 21, and as a result, the company’s shares will be locked away for 90 days as a result of the stake sale and buyback.

There are 0.7876 pounds in $1.

In this story, the headline and paragraph 1 have been corrected to show that the value of the stake sale was $3.5 billion, not $3.9 billion. In paragraph 5, the stake sale value is $3.1 billion, excluding Haleon’s off-market repurchases and the typo in paragraph 3 has also been corrected.

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