Pfizer in its $3.3 billion sale of ordinary shares in Haleon to institutional investors

On March 19, 2025, Pfizer Inc. (NYSE: PFE) announced the sale of approximately 618 million ordinary shares in Haleon plc (LSE/NYSE: HLN) to institutional investors (the “Offering”) in an unregistered offering pursuant to exemptions from registration under the Securities Act of 1933, at a price of 385 pence ($5.01) per ordinary share.  In connection with the Offering, Haleon will also repurchase approximately 44 million ordinary shares having an aggregate value of approximately £170 million ($220 million) directly from Pfizer (the “Share Buyback”).

The aggregate amount of the Offering and Share Buyback is approximately £2.5 billion ($3.3 billion).  Following the settlement of the Offering and the Share Buyback, Pfizer will have fully exited its position in Haleon, which today represents approximately 7.3% of Haleon’s issued share capital.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Pfizer.