Pfizer Inc (NYSE:PFE, ETR:PFE) has confirmed it will sell a large chunk of its stake in Haleon PLC (LSE:HLN, NYSE:HLN), raising over £2 billion (US$2.55bn).
Haleon, a former consumer health joint venture between GSK and Pfizer that was spun out in 2022 and is now itself listed on the FTSE 100, aims to buy £315 million of the shares, it said.
The sale of roughly 630 million Haleon shares, including American depositary shares is expected to reduce Pfizer's shareholding in Haleon from 32% to around 24%.
Pfizer's remaining stake is expected to be subject to a 90-day lock-up.