THE WHAT? Pfizer intends to offload its minority stake in GSK Consumer Health arm, Haleon, according to a report published by Reuters.
THE DETAILS Pfizer will put its 32 percent stake in the manufacturer of Sensodyne toothpaste up for sale after the unit is spun off next months. Pfizer, GSK and other current shareholders have committed to a lock-up period until November to allow the independent company time to flourish.
THE WHY? GSK rejected a £50 billion offer for the division from Unilever at the start of the year, meaning market expectations are sky-high for the new company as it lists.