Finance Watch: Pfizer Adds $3.5bn To Cash Stockpile, Reduces Stake In Haleon

Begins Slow Exit Of Consumer Health Company

 
• By Mandy Jackson
  
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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.

Finance Watch Public Company
• Source: Alamy

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...

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