RE:RE:RE:Conditions are right for biopharma M&A to break outMay 12, 2023 - Big Pharma is making strategic moves designed to focus resources on core therapeutic areas.
Today GSK announced the gradual sale of its stake in the consumer health company Haleon.
Just last week, Pfizer, which has a 32% stake in Haleon, told the Financial Times that it would begin a “slow and methodical” sale of its holdings.
“We love the Haleon business but it's not strategic,” Pfizer’s chief financial officer Dave Denton told the newspaper.
Like several other Big Pharma companies, GSK and Pfizer have pivoted in recent years to focus on innovative medicines and vaccines.
https://www.fiercepharma.com/pharma/gsk-sell-1-billion-stake-former-consumer-health-unit-haleon-shedding-240-shares