(Reuters) – British drugmaker GSK said on Thursday it plans to sell about 385 million shares, representing its entire shareholding, in spun-off consumer healthcare business Haleon.
The latest offload will mark the fourth set of disposal GSK has had in the Sensodyne toothpaste maker in a year.
GSK, which initially retained a near 13% stake in Haleon, had over the course of a year lowered its stake to 4.2%.
Last year, GSK had said that the Haleon spin-off and subsequent stake sales would allow the company to sharpen its focus on vaccines and infectious diseases and fund deals to bolster a lacklustre drug pipeline.
Haleon was formed in 2019 by merging GSK and Pfizer’s consumer healthcare businesses.
The disposal will be conducted via placing of shares in Haleon to institutional investors.
On Monday, Johnson & Johnson also offloaded its remaining 9.5% stake in Tylenol maker Kenvue.
(Reporting by Anchal Rana in Bengaluru; Editing by Shilpi Majumdar and Shailesh Kuber)
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