Pfizer will sell its remaining stake in British consumer healthcare group Haleon, the companies said.
Pfizer will sell about 662 million ordinary shares, or 7.3%, of Haleon, created in a merger of GSK and Pfizer's consumer healthcare businesses in 2019, and spun off in 2022.
Under the deal, the Sensodyne maker has agreed to buy back shares worth $220 million (€200.95 million) from Pfizer, currently its largest shareholder.
GSK, which initially owned nearly 13% of the firm, sold its entire stake in May 2024.
Following Pfizer's disposal, BlackRock Investment Management (UK) Ltd, a unit of BlackRock, will become Haleon's largest shareholder with over a 5% stake, according to data compiled by LSEG.
Revenue Growth
Haleon in February said its 2025 revenue and profit growth weighted to the second half of the year.
The company, which makes ENO antacids and Centrum multivitamins, projected organic revenue to grow between 4% and 6% for the current year, compared with analysts' average estimate of 5.3%, according to a company-compiled consensus.
Growing consumer focus on wellness is driving demand for multivitamins and oral hygiene products and cushioning a hit from a stronger pound and a post-pandemic slowdown in uptake of cold and pain medicines at the Advil painkiller maker.
Weak demand for cough and cold products, also weighed on US rival Kenvue, which earlier this month forecast 2025 profit below Wall Street estimates.
Adjusted operating profit for 2024 stood at £2.50 billion (€3 billion), also matching analysts' expectations.
