Drugmaker Pfizer has sold its entire stake in Haleon for about 2.5 billion pounds ($3.24 billion) to institutional investors and the consumer healthcare firm at 385 pence per share, a bookrunner for the deal said on Wednesday.

Pfizer Inc. raised about £2.55 billion ($3.3 billion) through the sale of its remaining 7.3% stake in Haleon Plc, culminating a years-long separation from the maker of Sensodyne toothpaste.The pharmaceutical giant offered about 618 million shares through a placement with investors,

Pfizer (NYSE:PFE) announced its intention to sell its entire residual shareholding in Haleon plc, reflecting a divestment strategy that prominently featured an accelerated book building process aimed at institutional investors.