UK’s Haleon sells NRT biz to Dr Reddy’s for $632 mn

Hyderabad: UK-based consumer healthcare company Haleon has entered into a pact to sell its nicotine replacement therapy (NRT) business outside of the US to Dr Reddy’s Laboratories SA for GBP500 million ($632.55 mn). This divestment is expected to close in early Q4/2024 and will allow Haleon to improve focus on its strategic growth areas.

In a statement released on Wednesday, Brian McNamara, CEO, Haleon, said: “The divestment of Haleon’s NRT business outside of the US is a further example of Haleon being proactive in managing its portfolio and is consistent with our strategy as we implement change to become more agile and competitive.”

The divestment will allow Haleon to exit the NRT category outside of the US and will reduce complexity across the business allowing increased focus on strategic growth areas, the company stated.

This portfolio consists of brands including Nicotinell, Nicabate, Habitrol and Thrive available in gum, lozenge, and patch forms across over 30 markets.

The financial results of the NRT business represented net revenue of 217 million pounds ($274 million) for the financial year ended December 31, 2023.