Pfizer has sold a stake in British consumer healthcare group Haleon worth about $3.26 billion, cutting its shareholding in the maker of Sensodyne toothpaste and Panadol and Advil painkillers to 15% from 22.6%.
Shares in Haleon, which was created by the merger of GSK and Pfizer's consumer healthcare businesses in 2019 and spun off from the British drugmaker in 2022, fell 1.2% to 388 pence in morning trade.
The Pfizer shares were placed at 380 pence each, a discount of 3.3% to Haleon's last closing price.
Pfizer, which remains the largest shareholder in Haleon following the sale, had said last year that it planned to cut its ownership in a "slow and methodical" manner within months.
Haleon separately confirmed it will buy about 60.5 million of its shares from Pfizer at the same price for a total of £230m.
Pfizer sold about $3.5 billion worth of Haleon shares in March, with GSK disposing of its entire stake in May.
In August, Haleon forecast high single-digit growth in organic operating profit in 2024 amid strong demand for its oral care products and vitamins.
