Pfizer to sell its entire stake in Haleon

USA – Pfizer has announced plans to sell its entire 32% stake in Haleon, the consumer health company it co-owns with GSK, for US $3.24 billion.

This move will mark Pfizer’s full exit from Haleon, which was spun off from GSK in 2022 and is best known for brands like Sensodyne, Panadol, and Advil.

The decision follows Pfizer’s gradual divestment from Haleon over the past year. In 2023, the company sold 9% of its shares for US $3.3 billion, and this latest sale will complete its withdrawal from the consumer health sector.

Haleon became a publicly traded company in July 2022 after GSK separated it from its pharmaceutical and vaccines business in a US $41 billion listing on the London Stock Exchange.

Pfizer’s decision to sell its stake aligns with its focus on prescription medicines and vaccines, rather than consumer health products.

The company has been facing revenue declines after the demand for its COVID-19 vaccine and antiviral treatment Paxlovid dropped. By selling its shares, Pfizer aims to strengthen its finances and support new drug development.

Haleon remains majority-owned by GSK, which still holds around 4.2% of the company. The consumer health giant has seen stable growth since its launch, benefiting from strong demand for pain relief, oral health, and wellness products.

Analysts expect the sale to attract strong investor interest, as Haleon has performed well in the market.

The company’s stock has risen around 7% this year, reflecting confidence in its ability to operate independently.

With this sale, Pfizer is making a final break from consumer health and doubling down on its core mission of developing innovative medicines and vaccines.

After Pfizer’s exit, BlackRock Investment Management (UK) Ltd will become Haleon’s largest shareholder, holding over 5% of the company, according to LSEG data.

In February, Haleon stated that its 2025 revenue and profit growth will be stronger in the second half of the year.