Pfizer to cut stake further in Panadol-maker Haleon

Both Haleon and Pfizer have significant operations based in Ireland, making the likes Panadol pain killers and other pharmaceuticals

Consumer products firm Haleon makes Panadol in Co Waterford. Haleon shares fell 2% on Monday.

Consumer healthcare firm Haleon has said that US drugmaker Pfizer, its top shareholder, will sell down its stake in the company to about 24%.

Pfizer, which currently holds a 32% stake in Haleon, said last year it planned to cut its ownership in a "slow and methodical" manner within months. The offer price per share is expected to be announced on or around March 19, Haleon said in a statement.