Dr Reddy’s to buy Haleon’s nicotine replacement therapy portfolio outside US for £500 mn

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Dr. Reddy’s said in the statement.The Hyderabad-based company will inherit the global nicotine replacement therapy (NRT) brand Nicotinell with a footprint in over 30 countries spanning Europe, Asia including Japan, and Latin America, along with the brand Nicabate, Habitrol and Thrive in markets outside of the US.“…The portfolio is attractive for its customer loyalty, its global nature, and the access it provides to key customers," said Israeli."We believe we can unlock more value, grow the portfolio further, and increase consumer access around the world to these global brands.

Given these advantages, it is the ideal anchor around which to build a larger global OTC platform."The proposed acquisition, the company said, will be inclusive of all formats such as lozenge, patch, and gum as well as pipeline products, in all applicable global markets. The Nicotinell business had generated revenue of £217 million last year.Nicotinell is the second biggest brand globally (excluding the US) in the NRT category.

It holds the first or second position in 14 of the top 17 global markets, with the lozenge or mini lozenge format holding the top position.NRT helps consumers stop smoking by replacing some of the nicotine they get from cigarettes.“As a business, consumer healthcare is a growing and sustainable business with favourable long-term trends. The business to be acquired from Haleon has maintained steady sales and strong profitability over the years," said Israeli.Tobacco use causes eight million deaths globally every year from health consequences such as cardiovascular diseases, lung disorders, cancers, diabetes, and many other debilitating diseases, the company said.“According to the World Health Organization (WHO), of the 1.3