Pfizer is selling its minority stake in ViiV Healthcare to Shionogi, exiting a company it co‑founded with GSK in 2009. The move will shift ownership among existing minority shareholders while GSK remains the majority owner. The transaction returns nearly $1.9 billion to Pfizer and refocuses Pfizer’s portfolio as Shionogi steps up its commitment to the HIV medicines company. The change in the ViiV cap table could influence future governance and strategic decisions for the HIV franchise and pipeline.