Pfizer Offloads Its Last 7% Stake In Consumer Health Haleon For Over $3 Billion

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Pfizer sold its remaining 7.3% stake in Haleon for $3.1 billion, fully exiting its position in the company.
Haleon expects 2025 organic revenue growth of 4% to 6%, with stronger performance in the second half.
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On Wednesday, US drug company Pfizer Inc PFE sold its entire stake in Haleon Plc HLN to institutional investors and the consumer healthcare firm at 385 pence per share ($5.00).

Under the deal, Haleon agreed to purchase approximately 44 million ordinary shares at 385 pence from Pfizer off-market for an aggregate consideration of approximately 170 million pounds, or $220 million.

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Pfizer has sold approximately 618 million ordinary shares in Haleon to institutional investors at 385 pence per share, raising gross sale proceeds of approximately 2.4 billion pounds, or $3.1 billion.

After the off-market purchase and Pfizer’s offering to institutional investors, Pfizer’s interest in Haleon’s issued ordinary shares with voting rights is expected to reduce from approximately 7.3% to nil.

Brian McNamara, CEO of Haleon, commented: “Today’s transaction is an important milestone for the business and marks Pfizer fully exiting its stake in Haleon, having been at 32% at the time of demerger in July 2022. Our participation in the offering is consistent with our disciplined capital allocation priorities, and supports our commitment to deliver attractive returns for shareholders, underpinned by a strong investment grade balance sheet. Nearly three years on from demerger, Haleon is in a position of strength and is well placed to capitalize on the significant opportunities ahead.”

Settlement of the offering is expected to occur on March 21.

In October 2024, Pfizer divested a $3.3 billion stake in Haleon, reducing its holding from 22.6% to 15% in the British consumer healthcare company.

In May 2024, GSK plc GSK confirmed the sale of 385.3 million shares in Haleon for $1.58 billion, fully exiting its position in Haleon.

In the fourth-quarter earnings release, Haleon projects 2025 organic revenue to grow between 4% and 6%. Haleon expects organic revenue and operating profit growth to be weighted towards the second half of the year.

Reuters notes that following Pfizer’s disposal, BlackRock Inc’s BLK unit will become Haleon’s largest shareholder with a more than 5% stake.

Price Action: HLN stock is down 0.05% at $10.28, and PFE stock is up 0.30% at $26.38 at the last check Wednesday.

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