RDY - Haleon To Offload Non-Core Nicotine Therapy Business To Dr. Reddy's For Over $600M | Benzinga
On Wednesday, Haleon plc (NYSE:HLN) agreed to sell its nicotine replacement therapy business outside of the U.S. to Dr. Reddy's Laboratories SA, a wholly owned subsidiary of Dr. Reddy's Laboratories Limited (NYSE:RDY) for 500 million pounds (around $632 million).
The nicotine replacement therapy (NRT) portfolio consists of brands such as Nicotinell, Nicabate, Habitrol, and Thrive, which are available in gum, lozenge, and patch forms across over 30 markets.
The 500 million pound consideration is structured as an upfront cash payment of 458 million pounds, with a further up to 42 million pounds deferred performance-based consideration payable ...