Pfizer has finalized its separation from Haleon Plc by selling its remaining 7.3% stake for approximately $3.3 billion. The pharmaceutical company sold about 618 million shares through a placement with investors at $4.96 per share, a 1.6% discount to Haleon’s previous closing price. Investor demand for the shares exceeded the offering size. Additionally, Pfizer sold around $219 million worth of shares back to Haleon through an off-market share repurchase transaction. Haleon’s stock fluctuated slightly after the announcement, trading 0.2 percent lower in London.
Haleon was established in 2022 from the merger of GSK Plc and Pfizer’s consumer health businesses. Pfizer had been gradually reducing its stake, raising $3.2 billion in a block trade earlier this year. GSK had already sold its shares, completing its exit in 2023. Despite strong fourth-quarter earnings, Haleon expects growth to accelerate in the second half of 2025. The company has also downplayed concerns over potential U.S. tariffs, citing limited exposure. Pfizer’s share sale is part of a broader trend of block trades in European stocks, as market volatility and high valuations prompt investors to sell long-held positions.
