Dr Reddy’s Nears Deal to Acquire Nicotinell from Haleon

The anti-smoking medication Nicotinell is about to be acquired by an Indian pharmaceutical corporation from its FTSE-100 parent company, Haleon.According to information obtained by Sky News, Dr Reddy's Laboratories, located in Hyderabad, may shortly be purchasing the brand and other lesser-known European items from Haleon.

According to sources, an announcement on a deal may come as soon as this week.The potential purchase price of Dr Reddy's for the Haleon assets remained undisclosed on Sunday, although it is anticipated to be in the hundreds of millions of pounds.

If it goes through, it will be the most recent purchase for the US- and India-listed business. Founded in 1984, Dr Reddy's is currently valued at around $11.7 billion on the New York market.The firm has been present in Britain since 2002, and its facilities there include a research and development facility in Cambridge as well as commercial offices.

In Mirfield, West Yorkshire, it also runs a production facility for active medicinal ingredients.For several months, Dr. Reddy's has been in negotiations to purchase the Nicotinell trademark from Haleon, the massive OTC product company that was separated from FTSE-100 pharmaceutical manufacturer GlaxoSmithKline.

With a market valuation of about £29.5 billion, Sir Dave Lewis, the former CEO of Tesco, serves as the chair of Haleon.

Earlier this month, GSK sold the remainder of its shares in Haleon. Some of the most well-known over-the-counter medical trademarks in Britain are owned by Haleon, including Sensodyne toothpaste, Panadol pain reliever pills, and the multivitamin supplement Centrum.

According to reports, Nicotinell is the second-largest global product for nicotine replacement treatment. It is available as patches, gum, and lozenges.

Its potential sale will occur a few days after unexpectedly calling a general election for the summer, which prevented Rishi Sunak's administration from passing his signature anti-smoking measure.

Haleon chose not to respond.