GSK PLC (LSE:GSK, NYSE:GSK) has further reduced its stake in consumer health group Haleon PLC (LSE:HLN, NYSE:HLN), offloading 270 million shares for around £886 million.
It is the second time in three months the drugs giant has lowered its holding in the maker of Sensodyne toothpaste and Panadol painkillers, raking in just under £1.9 billion in the process.
GSK now holds just 7.2% of the business. Pfizer owns 32%. Both companies have agreed to a 60-day lock-up before selling stock.
Haleon became an independent company last July when GSK spun out the operation. Listed on the London and New York stock exchanges, it is a component of the FTSE 100.