Pfizer will sell shares worth 2.50 billion pounds ($3.05 billion) in Haleon, lowering its stake in the British consumer healthcare company to about 7.3% from 15%, its bookrunner JPMorgan said on Wednesday.

The sale decreases Pfizer’s shareholding in the consumer-healthcare business to 7.3% of its issued share capital, down from 15%.

On Jan 15, Pfizer Inc. ( PFE, Financial) announced to sale of about 700 million ordinary shares of Haleon plc through a secondary offering. The sale is 7.7% of Haleon's issued share capital and will be undertaken following an accelerated book-building process dealing with institutional investors.

Pfizer is looking to sell about 700 million ordinary shares in Haleon, its bookrunner J.P. Morgan said on Tuesday, lowering its stake in the British consumer healthcare company to about 7.3% from 15%.

Pfizer Inc. sold about 700 million shares in Haleon Plc, further paring its stake in the maker of Sensodyne toothpaste.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC,

Pfizer’s decision to offload $3.05 billion worth of shares in Haleon is a strategic move driven by shifting priorities in a volatile pharmaceutical market. The transaction, involving 700 million shares priced at 357 pence each,