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Dr. Reddy's Laboratories

Dr. Reddy's Laboratories (DRRD IN): Nicotinell Acquisition to Fortify Consumer Healthcare Business

325 Views27 Jun 2024 22:00
SUMMARY
  • Dr. Reddy's Laboratories (DRRD IN) has signed a definitive agreement with Haleon (HLN LN) to acquire latter’s global portfolio of consumer healthcare brands in the nicotine replacement therapy outside US.
  • The company will acquire the portfolio for a total consideration of £500M ($633M). In 2023, the portfolio generated ~£217M ($274M) revenue. Purchase consideration values the business at EV/sales of 2.3x.
  • The acquisition will not stretch the balance sheet as Dr. Reddy’s has a cash balance of $990M as on March 31, 2024. The transaction is expected to complete in 4Q24.
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