GlaxoSmithKline (GSK) has successfully divested its entire remaining stake in consumer healthcare firm Haleon, securing proceeds of 1.25 billion pounds ($1.52 billion), the British pharmaceutical company announced on Friday.

In the transaction, GSK sold approximately 385 million shares at a price of 324 pence per share, representing a 4.2% stake in Haleon. The consumer healthcare firm was established through the merger of GSK and Pfizer's consumer healthcare businesses in 2019.

The sale was executed at a slight discount of approximately 2.5% to Haleon's closing price of 332.4 pence on Thursday.

This move aligns with GSK's strategic focus on its core areas, particularly vaccines, cancer, and infectious diseases, which CEO Emma Walmsley has prioritized to enhance earnings under the current company strategy.

Initially holding nearly a 13% stake in Haleon, GSK had spun out and listed the consumer healthcare entity on the London Stock Exchange in July 2022.

Notably, this divestment represents GSK's fourth sale of its interest in the Sensodyne toothpaste maker within just over a year.

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