GSK has raised £978 million ($1.24 billion) from the sale of part of its stake in its consumer healthcare spin-out company, Haleon. GSK sold 300 million ordinary shares in Haleon at 326 pence per share to reduce its share in the company to 4.2%.  

GSK had first announced the spin-off of its consumer healthcare business in June 2021 as part of a company strategy to focus on its core bio/pharmaceuticals and vaccines business. GSK completed the spin-off in July 2022 to form a separate, independent and publicly traded consumer healthcare  company, Haleon. Prior to the demerger, GKS’s Consumer Healthcare business was a joint venture between GSK and Pfizer. It was formed from the combination of the legacy GSK consumer healthcare business with the Novartis consumer healthcare business in 2015, and the subsequent combination of that resulting business with Pfizer’s consumer healthcare business in 2019.  

Following its recent sale, GSK now holds approximately 385 million ordinary shares in Haleon, representing approximately 4.2% of the issued share capital of Haleon.  

GSK and Pfizer (which now holds a 32% stake in Haleon) have each undertaken not to dispose of any further shares in Haleon for a period of 60 days following settlement of the sale, subject to certain customary exceptions and waivers.  

Source: GSK