RDY - Dr. Reddy's to Acquire Haleon's Nicotine Addiction Drug | Benzinga
Dr. Reddy's Laboratories (NYSE: RDY) has announced a definitive agreement with Haleon plc (NYSE: HLN) to acquire its global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy category, excluding the United States.
The impending acquisition will add Nicotinell, Haleon's leading NRT brand with a presence in more than 30 countries across the EU, Asia (including Japan) and Latin America, to RDY's portfolio of global consumer healthcare over-the-counter (OTC) drugs. It also encompasses local market-leading brands, such as Nicabate in Australia, Thrive in Canada and Habitrol in New Zealand and Canada. The acquisition will cover all product formats, including lozenge, patch, gum and pipeline products, in all applicable global markets outside the United States.
The strategic move is set to further strengthen Dr. Reddy's OTC business. Please note that Haleon's Nicotinell is the world's second-largest brand in the NRT category, excluding the United States. It holds either the first or second position in 14 out of the top 17 global markets, with its lozenge/mini lozenge format being the top choice globally. Additionally, Nicotinell is among the top 15 OTC brands in Europe (excluding Russia and Italy) and ranks 32nd among all OTC brands globally (excluding the United States). In 2023, Nicotinell generated approximately GBP 217 million in revenues.
The proposed acquisition of Nicotinell and its related portfolio will provide a strong presence in the EU ...