Changing course, Pfizer decides to sell off stake in GSK's consumer health spinoff
GSK’s consumer health spinoff Haleon is expected to list on the London stock exchange next month. But don’t expect Pfizer to stick along for the ride.
Pfizer announced on Wednesday that it plans on exiting its 32% stake in Haleon “in a disciplined manner” after the company lists in July. According to a quarterly filing, that could net the pharma giant roughly $15.8 billion.
The move is quite the turnaround from a GSK announcement earlier this year, in which the company said Pfizer would retain its 32% stake and appoint two board directors. While Pfizer’s still putting forth two board members, it appears the pharma giant has changed its mind on the stake.
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