Indian pharmaceutical group Dr Reddy's Laboratories is currently in discussions to acquire Nicotinell, the anti-smoking aid, from its FTSE-100 parent company. Reports suggest that Dr Reddy's is leading the race to purchase the brand from Haleon, the consumer healthcare giant that was spun out of GlaxoSmithKline two years ago.
Sources have indicated that the negotiations are ongoing; emphasising that there is no certainty regarding the finalisation of a deal. The financial terms of the potential acquisition remain unclear, although insiders doubt it will reach the $800 million figure reported in the media last July.
If Dr Reddy's proceeds with the acquisition, it would be the latest in a series of strategic purchases by the Indian pharmaceutical company. In a recent announcement earlier this month, Dr Reddy's revealed its acquisition of MenoLabs, a portfolio specialising in women's health and dietary supplements.
As of now, Dr Reddy's holds a market value of approximately $11.6 billion on the New York Stock Exchange, having been established in 1984.