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.
Pfizer chief financial officer David Denton reiterated the company’s long-term plans related to Haleon during the TD Cowen Health Care Conference on 4 March. “We have a stake that we've said that we are going to monetize … over time. We still plan to do that,” Denton said
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