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Manager Regulatory Affairs

*GSK sells off remaining stake in Haleon* Sale of 4.2% holding raises £1.25bn for pharmaceutical group as it shifts focus to high-value drugs GSK has sold its remaining stake in Haleon, the consumer healthcare company it spun off and listed in London in July 2022, raising £1.25bn and underscoring how pharmaceutical groups are streamlining their businesses to focus on high-value drugs. The sale of the 4.2 per cent stake marks the end of the FTSE 100 company’s links to the maker of Panadol painkillers and Sensodyne toothpaste. GSK on Friday said it had sold more than 385mn shares at 324p a share, representing a 2.6 per cent discount to its closing price of 332.4p on Thursday. The British pharmaceutical company’s exit from Haleon was anticipated. The group had made three previous stock disposals since May 2023, when it held 12.9 per cent of the spin-off’s shares. The company said its exit was “consistent with its previous commitments to monetise its holding in a disciplined manner.” In total, stock disposals over the past year have helped GSK raise just under £4bn, which can be redirected to reducing debt or for mergers and acquisitions. Haleon was formed in 2019 as a joint venture of Pfizer and GSK’s consumer health assets. The decision to list the division in 2022 marked the largest public offering in London in a decade. It came after years of pressure from shareholders, with activist investor Elliott Advisors building a stake in the UK drugmaker and pushing GSK to speed up the process. https://lnkd.in/du4hdZg3

GSK sells off remaining stake in Haleon

GSK sells off remaining stake in Haleon

ft.com

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