Haleon becomes independent after Pfizer sells stake

Haleon, the company behind Sensodyne toothpaste, has officially become an independent firm. This change follows Pfizer's sale of its remaining shares in Haleon. The sale is seen as a significant step for the company, which was formed as a partnership between Pfizer and GSK. Haleon's shares have been performing well since they were listed on the stock market in 2022. Since then, the stock has risen nearly 20%. Pfizer made £2.4 billion from selling its 7.3% stake, with most of the shares going to institutional investors at a price of 385 pence each. Haleon also repurchased about 44 million shares for £170 million. Brian McNamara, the CEO of Haleon, stated that this event marks an important milestone for the company. He believes Haleon is well-positioned for future growth. Following the announcement, Haleon’s stock increased by 0.7% to 394 pence. Market analysts see this as a positive development for the London Stock Exchange. David Buik noted that Haleon represents a success story amidst broader economic concerns. Overall, the smooth sale of Pfizer’s stake is viewed as a positive sign for the market.