Dr Reddy’s completes acquisition of Haleon’s global NRT portfolio | Company News
Dr Reddy’s Laboratories (DRL) on Monday announced that its Switzerland-based subsidiary has completed the acquisition of UK-based Haleon plc’s global portfolio of consumer healthcare brands, outside of the United States (US), in the nicotine replacement therapy (NRT) category.
“We would like to inform you that the acquisition has now been completed, and the company has made a payment of upfront cash consideration of GBP 458 million,” the Hyderabad-based drug major said in a regulatory filing.
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DRL’s Swiss subsidiary completed the acquisition through the purchase of shares of Northstar Switzerland SARL, a Haleon group company.
“As part of this acquisition, Northstar Switzerland, along with its wholly-owned subsidiaries North Star OpCo Limited (United Kingdom) and North Star Sweden AB (Sweden), are now wholly-owned step-down subsidiaries of the company with effect from September 30, 2024,” the company said.
The acquired portfolio consists of Nicotinell, a global leader in the NRT category, with an extensive footprint in over 30 countries spanning Europe, Asia, and Latin America. The portfolio includes all formats, such as lozenges, patches, and gum, as well as pipeline products, in all applicable global markets outside of the US.
First Published: Sep 30 2024 | 6:57 PM IST
