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Dr Reddy’s Laboratories SA, Switzerland, an arm of Dr Reddy’s Laboratories, has completed the previously-announced acquisition of Haleon Plc’s global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy (“NRT”) category outside of the US.
The acquisition was completed through the purchase of shares of Northstar Switzerland SARL, a Haleon group company. The company has made payment of upfront cash consideration of £458 million.
Further, as part of this acquisition, Northstar Switzerland along with its wholly-owned subsidiaries North Star OpCo Ltd (the UK) and North Star Sweden AB (Sweden) are now wholly-owned step-down subsidiaries of the company effective September 30.
Nicotinell buy
The acquired portfolio consists of Nicotinell, a global leader in the NRT category with an extensive footprint in over 30 countries spanning Europe, Asia including Japan, and Latin America, and local market-leading brand names of the product – Nicabate in Australia, Thrive in Canada, and Habitrol in New Zealand and Canada.
The portfolio is inclusive of all formats such as lozenge, patch, gum as well as pipeline products, in all applicable global markets outside of the US. Nicotinell is the second-biggest brand globally (excluding the US) in the NRT category.
NRT is recommended by the ‘World Health Organization Model List of Essential Medicines’ for nicotine use disorders.
The acquisition of this global portfolio of consumer healthcare products is a significant and logical extension of the company’s efforts in consumer healthcare (nutrition and OTC wellness) in recent years, and of its purpose of ‘Good Health Can’t Wait’.
The company has been steadily building its OTC presence in various markets and investing in its capabilities, including a recent joint venture with Nestlé India. As a business, consumer healthcare is a growing and sustainable business with favourable long-term trends.
“This acquisition is an ideal anchor to continue to build the company’s global consumer healthcare OTC business,” Dr Reddy’s informed the BSE.
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