Dr Reddy’s Laboratories has announced the completion of its acquisition of Haleon plc’s global portfolio of nicotine replacement therapy (NRT) brands outside the United States. This follows the earlier announcement on 26 June 2024, regarding the purchase made through Dr Reddy’s wholly-owned subsidiary, Dr Reddy’s Laboratories SA, Switzerland. The transaction includes the acquisition of Northstar Switzerland SARL, a Haleon group company, along with its subsidiaries, North Star OpCo Limited (UK) and North Star Sweden AB.
The acquisition was finalised with an upfront payment of £458 million. With effect from 30 September 2024, Northstar Switzerland and its subsidiaries are now wholly-owned step-down subsidiaries of Dr. Reddy’s Laboratories.
The newly acquired portfolio includes Nicotinell, a leading brand in the NRT category, with a presence in more than 30 countries, including Europe, Asia (notably Japan), and Latin America. In Australia, the product is marketed under the brand name Nicabate, while it is known as Thrive in Canada and Habitrol in both New Zealand and Canada. The portfolio includes various product formats, such as lozenges, patches, and gum, as well as pipeline products for future markets outside of the United States. Nicotinell is recognised as the second-largest NRT brand globally (excluding the US market).
NRT is endorsed by the World Health Organization (WHO) and is included in its Model List of Essential Medicines for nicotine use disorders. This acquisition aligns with Dr. Reddy’s broader strategy to expand its presence in the consumer healthcare space, including over-the-counter (OTC) wellness products. It follows the company’s joint venture with Nestlé India and reinforces its focus on building a global consumer healthcare business.
Dr Reddy’s sees the acquisition as a significant step towards strengthening its consumer healthcare offerings, which it views as a growing and sustainable sector. This acquisition serves as a key anchor to further build its global OTC business, reflecting its commitment to the purpose of “Good Health Can’t Wait”.