Pfizer sold a stake in British consumer healthcare group Haleon worth about $3.26 billion on Monday, cutting its shareholding in the maker of Sensodyne toothpaste and Panadol and Advil painkillers to 15% from 22.

Pfizer Inc. plans to sell 540 million worth of shares in Haleon Plc, as it pares back its holding in the UK consumer health giant.

Pfizer will receive around 2.66 billion pounds ($3.56 billion) in aggregate from Haleon from an offering and a share buyback. Goldman Sachs International said Tuesday that the pharmaceutical company sold 640 million ordinary shares in British consumer-healthcare business Haleon at 380 pence a share.

Pfizer sold a stake in British consumer healthcare group Haleon worth about $3.26 billion on Monday, cutting its shareholding in the maker of Sensodyne toothpaste and Panadol and Advil painkillers to 15% from 22.

Pfizer Inc. ($PFE) has sold its stake worth $3.26 billion in UK-based consumer healthcare company Haleon PLC ($GB:HLN). With this transaction,

Pfizer (PFE) reduces its stake in Haleon to 15% from 22.6% by selling £2.45B worth of shares, continuing its gradual divestment strategy. Read more here.

Pfizer's stake sale in British consumer healthcare company Haleon has been upsized by 100 million shares to 640 million shares worth about $3.25 billion with strong demand from investors, a bookrunner familiar with the offering said on Monday.

Haleon said Pfizer's stake was expected to fall to 15 per cent from 22.6 per cent. Haleon shares fell 0.25 per cent or 1.00p to 391.90p, having risen around 15 per cent in the las