By Joe Hoppe

GSK said it will sell a stake in Haleon worth around 1.0 billion pounds ($1.27 billion), reducing its stake in the consumer-healthcare business to around 3.2%.

The British pharmaceutical giant said Tuesday that it will sell around 300 million Haleon shares, with an offer price determined through an accelerated bookbuild process starting immediately.

Haleon shares closed Tuesday at 333.6 pence.

U.S. pharma giant Pfizer also holds a 32% stake in Haleon, which was spun out of GSK and Pfizer's consumer-healthcare business.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

January 16, 2024 12:04 ET (17:04 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.
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