Pfizer Will Earn $16 Billion from Selling Shares in GSK Consumer Health Joint Venture

Pfizer has announced its exit from the consumer health market. In 2019, the company teamed up with Glaxo-Smith Klein (GSK), purchasing a 32% stake in the pharma giant’s consumer health venture Haleon. However, with little growth since the purchase, Pfizer is pulling out of the deal.

According to Angus Liu, “The cash inflow will once again boost Pfizer’s financial position on top of the big pile of money it has built from selling COVID-19 products. The cash could help Pfizer grow its pipeline of innovative drugs and vaccines through dealmaking.”

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(Source: Fierce Pharma, Jun 1^st, 2022)