Pfizer Inc. held a 32% stake in Haleon plc after the consumer health business spun out of GSK plc in 2022, but through a sale of stock on 19 March Pfizer reduced its stake to 22.6% and garnered $3.5bn. The cash will help the US big pharma pay down debt from its $43bn acquisition of the antibody-drug conjugate (ADC) pioneer Seagen Inc., which closed late last year.
Finance Watch: Pfizer Adds $3.5bn To Cash Stockpile, Reduces Stake In Haleon
Begins Slow Exit Of Consumer Health Company
Public Company Edition: Pfizer’s stake in Haleon dropped from 32% to 22.6% with a massive sale of shares of the GSK consumer health spinout. Also, Galderma prices its Swiss IPO, Madrigal grosses $600m in a post-approval offering and bluebird secured up to $175m in debt.
