Pfizer Inc disposed of its entire residual stake in Haleon PLC, selling 662 million shares in the consumer health firm through a placing with institutional investments and a share buyback by Haleon.

Haleon is a Weybridge, Surrey-based consumer healthcare firm that was spun out of Pfizer and GSK PLC in 2022. Pfizer is a New York-based pharmaceutical company.

The sale represents a 7.3% stake in Haleon and marks Pfizer’s full exit from its holding in the company.

A total of 618 million shares were placed with institutional investors via an accelerated bookbuilding process led by Citigroup Global Markets Ltd, together with Goldman Sachs International and BofA Securities, as joint global coordinators and bookrunners. Barclays and Deutsche Numis were joint bookrunners.

The price was 385 pence per share, making the placing worth £2.4 billion. Haleon shares were 0.3% lower at 390.10 pence in London early Wednesday.

Haleon also repurchased 44.2 million shares from Pfizer at the same price, representing a further £170 million. Pfizer will receive a total of about £2.5 billion as a result.

Haleon on Wednesday said the shares repurchased from Pfizer form part of its planned £500 million in share buybacks during 2025.

Haleon was a joint venture between Pfizer and GSK before being listed in London as a separate company in 2022. GSK sold its remaining 4.2% holding in Haleon in May last year.

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