Dr. Reddy's Laboratories (NYSE:RDY) has disclosed the acquisition of Nicotinell® and related brands from Haleon outside the US.

This strategic move marks a significant expansion of Dr. Reddy's consumer healthcare offerings in the Nicotine Replacement Therapy (NRT) category.

CEO Erez Israeli expressed enthusiasm about the acquisition, stating, "I’m delighted to announce that, today, we signed an agreement with Haleon to acquire the global consumer healthcare portfolio in the Nicotine Replacement Therapy (NRT) category."

The transaction, valued at £500 million, is expected to close in early Q4 2024, pending regulatory approvals.