Sensodyne toothpaste maker Haleon hailed an ‘important milestone’ as an independent company after US pharma giant Pfizer sold its remaining stake in the business.
Shares in the consumer health group – originally a joint venture between Pfizer and GSK – are up nearly a fifth since it joined the stock market in 2022 in the biggest London listing for over a decade.
Its success was underlined yesterday when Pfizer made £2.4billion selling its 7.3 per cent stake. Most of the 662m shares were sold to institutional investors at 385p – while around 44m shares were bought back by Haleon for £170million.
‘Today’s transaction is an important milestone,’ said company boss Brian McNamara. ‘Haleon is in a position of strength, well-placed to capitalise on significant opportunities ahead.’
Shares rose 0.7 per cent, or 2.9p, to394p, after listing at 330p in 2022. City commentator David Buik said: ‘Haleon is a much-needed success story for London given all the talk of doom and gloom.’ GSK sold its remaining stake last May.
Derren Nathan, head of equity research at Hargreaves Lansdown, said: ‘The fact that Pfizer was able to find a home for its stake without disrupting the market is a feather in the cap for the London Stock Exchange.’
‘Success story’: Shares in consumer health group Haleon – originally a joint venture between Pfizer and GSK – are up nearly a fifth since it joined the stock market in 2022
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