Pfizer sells off partial stake in Haleon, potentially raising $2B+

Fol­low­ing in GSK’s foot­steps, Pfiz­er is sell­ing off about 630 mil­lion shares of its stake in con­sumer health spin­off Ha­le­on, re­duc­ing the Big Phar­ma’s stake from 32% to ap­prox­i­mate­ly 24%.

The of­fer­ing price, which will be an­nounced around March 19, will be set by a book build­ing process, Ha­le­on said Mon­day, adding that it will al­so re­pur­chase about $400 mil­lion of shares from Pfiz­er. Based on Ha­le­on’s last clos­ing price, Pfiz­er would raise about $2.58 bil­lion in sell­ing off 630 mil­lion shares.

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