Dr Reddy’s Laboratories (DRL) on Monday announced that its Swiss-based subsidiary has completed the acquisition of UK-based Haleon plc’s global portfolio of consumer healthcare products, outside the United States (US), in the nicotine replacement therapy (NRT) category ).
“We would like to inform you that the acquisition has been completed, and the company has paid an initial payment of GBP 458 million,” the Hyderabad-based drugmaker said in a regulatory filing.
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DRL’s Swiss subsidiary completed the acquisition by purchasing the shares of Northstar Switzerland SARL, a Haleon group company.
“As part of this acquisition, Northstar Switzerland, together with its subsidiaries North Star OpCo Limited (United Kingdom) and North Star Sweden AB (Sweden), are now subsidiaries of the divested company as of September. 30, 2024,” the company said.
The acquired portfolio consists of Nicotinell, the global leader in the NRT category, with a wide footprint in more than 30 countries including Europe, Asia, and Latin America. The portfolio includes all formats, such as lozenges, patches, and chewing gum, as well as pipe products, in all active global markets outside the US.
First published: Sep 30 2024 | 6:57 PM IST