- Dr. Reddy’s may acquire Nicotinell and other Haleon brands
- Deal likely to be announced this week, worth millions
- Nicotinell is second-largest nicotine replacement product globally
Dr. Reddy’s Laboratories may be able to acquire Nicotinell and several other brands from Haleon as early as this week.
Nicotinell, the anti-smoking aid, is on the brink of being acquired by an Indian pharmaceutical group from Haleon, its FTSE-100 parent company.
Hyderabad-based Dr. Reddy’s Laboratories could acquire the brand and several lesser-known European products from Haleon within the next few days.
According to sources, an agreement will likely be disclosed this week.
On Sunday, the amount that Dr. Reddy’s might pay for the Haleon-owned assets was uncertain, but it is anticipated to be in the hundreds of millions of pounds.
The Indian- and US-listed company will have made its most recent acquisition if it is finalized.
Dr. Reddy’s, founded in 1984, has a market value of approximately $11.7 billion in New York.
The company has been in Britain since 2002 and maintains a research and development center and commercial facilities in Cambridge.
Additionally, it maintains an active pharmaceutical ingredient manufacturing facility in Mirfield, West Yorkshire.
“Take a step towards financial freedom – claim your free Webull shares now!”
For several months, Dr. Reddy’s has been discussing the acquisition of the Nicotinell brand from Haleon, the over-the-counter products giant spun out of FTSE-100 drug manufacturer GlaxoSmithKline.
Sir Dave Lewis, the former chief executive of Tesco, serves as the chairman of Haleon, which has a market capitalization of nearly £29.5 billion.
Haleon’s remaining stake was divested by GlaxoSmithKline earlier this month.
Haleon owns some of the most recognizable over-the-counter healthcare trademarks in Britain, such as the multivitamin supplement Centrum, Panadol pain relief tablets, and Sensodyne toothpaste.
Nicotinell, which is available in patch, gel, and lozenge forms, is reputed to be the second-largest nicotine replacement therapy product in the world.
After Rishi Sunak’s administration failed to pass his hallmark anti-smoking bill following a surprise summer general election, it is expected to be sold in the coming days.
