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June 2, 2022

Pfizer to exit consumer health JV after demerger

GSK holds the majority stake of 68% in Haleon while Pfizer has 32% stake.

Pfizer has announced plans to exit its 32% stake in Haleon in a disciplined manner following the latter’s listing as an independent listed company.

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The listing of the company on the London Stock Exchange (LSE) is anticipated in July this year.

Haleon is a consumer healthcare business and is currently a joint venture between GlaxoSmithKline (GSK) and Pfizer .

The product portfolio of Haleon is categorised into oral health, pain relief, VMS, respiratory health, digestive health and others. 

GSK holds the majority stake of 68% in Haleon while Pfizer has 32% of the stakes.

In June last year, GSK announced plans to separate this business from the company through a demerger of a minimum of 80% of its 68% stakes in Haleon to the former’s shareholders. 

Pfizer ’s plans to sell the stake is to focus on science-based innovative therapies and vaccines and to enhance value for its shareholders.

Pfizer , GSK and Scottish limited partnerships (SLPs) have signed an orderly marketing agreement, which necessitates them to give notice to each other for any proposed new sale of shares of Haleon. 

Following the demerger, Pfizer ‘s former group president and chief business officer John Young and senior vice-president and deputy general counsel Bryan Supran will join the board of directors of Haleon.

Furthermore, GSK has reported that a circular on the proposed demerger and the prospectus on the admission of ordinary shares of Haleon to the Premium listing segment of the Official List of the Financial Conduct Authority (FCA) and for trading on the Main Market of the LSE were approved by the authority.

In January this year, GSK rejected three unsolicited, conditional and non-binding proposals from Unilever to acquire the Consumer Healthcare business for nearly $68.4bn (£50bn). 

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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