03:47 AM EST, 01/16/2025 (MT Newswires) -- (Updates with Haleon's ( HLN ) response in the last paragraph)

Pfizer ( PFE ) is seeking to sell more than half of its stake or 2.50 billion British pounds ($3.05 billion) worth of shares in Haleon ( HLN ) , multiple news outlets reported Wednesday, citing bookrunner JPMorgan ( JPM ) .

The sale of 700 million shares at 3.57 pounds per share would lower Pfizer's ( PFE ) stake in the UK consumer healthcare firm, which makes Sensodyne, Panadol, Centrum, and Advil, to 7.3% from 15%, Reuters reported.

Pfizer ( PFE ), which will continue to be Haleon's ( HLN ) largest shareholder after the sale, said in 2023 it would reduce its stake in a "slow and methodical" manner within months, Reuters reported.

Haleon ( HLN ) declined to comment while Pfizer ( PFE ) and JPMorgan ( JPM ) did not reply to MT Newswires' requests for comment.