06:08 AM EDT, 03/19/2025 (MT Newswires) -- Pfizer ( PFE ) has sold its stake in over-the-counter drug maker Haleon ( HLN ) for about 2.5 billion UK pounds ($3.24 billion) to institutional investors and Haleon ( HLN ) itself, Reuters reported Wednesday, citing a bookrunner for the deal.

Pfizer ( PFE ) sold the shares at a price of 3.85 pounds each, the report said.

Under the deal, Haleon ( HLN ), which makes Sensodyne, Panadol and Advil, agreed to buy back 44 million shares from Pfizer ( PFE ) while institutional inventors bought 618 million shares, the report said.

Following Pfizer's ( PFE ) divestment, BlackRock's ( BLK ) BlackRock Investment Management (UK) unit will be Haleon's ( HLN ) largest shareholder with a more than 5% stake, the report said.

Pfizer ( PFE ) and Haleon ( HLN ) did not immediately reply to MT Newswires' request for comment.

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