Pfizer aims to sell roughly 630 million shares of Haleon, a company created to handle the Consumer Healthcare business jointly owned by GSK and Pfizer.
Currently, Pfizer holds a 32% stake in Haleon, which it plans to gradually divest to focus more on its primary operations.The proceeds generated from the sale of these shares will be redirected towards investing in Pfizer’s core businesses and rewarding shareholders through dividends and share buybacks.
The proceeds generated from the sale of these shares will be redirected towards investing in Pfizer’s core businesses and rewarding shareholders through dividends and share buybacks.
Following the share sale, GSK and certain affiliated entities will still retain a combined ownership interest of approximately 13.6% in Haleon.
Pfizer’s decision to sell its shares in Haleon reflects its commitment to enhancing shareholder value and concentrating on developing science-based innovative medicines and vaccines.
This strategic move aligns with Pfizer’s broader transformational objectives aimed at streamlining its operations and focusing on its core competencies.
By exiting its ownership in Haleon, Pfizer aims to optimize its resources and position itself as a leading global player in the pharmaceutical industry.
Overall, Pfizer’s plan to sell its shares in Haleon signifies a strategic shift towards prioritizing its core businesses and maximizing shareholder returns.
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