Biotech Values

[DewDiligence]

PFE will_have_even_more_cash_for M&A after_selling_32%_stake_in Haleon:

https://finance.yahoo.com/news/pfizer-provides-ownership-interest-haleon-122700534.html

Pfizer Inc. today provided an update on its ownership interest in Haleon plc, the newly independent company which will hold the joint Consumer Healthcare business of GSK plc and Pfizer following the demerger of approximately 80% of GSK’s ownership interest in the business to GSK’s shareholders. Following the demerger and listing of Haleon on the London Stock Exchange (LSE), which is expected to occur in July 2022, Pfizer will continue to hold a 32% ownership interest in Haleon. However, in keeping with Pfizer’s transformation into a more focused, global leader in science-based innovative medicines and vaccines, the company intends to exit its 32% ownership interest in Haleon in a disciplined manner, with the objective of maximizing value for Pfizer shareholders.

PFE’s 32% equity stake in Haleon should be worth about $20B.