Haleon to Sell Nicotine-Quitting Aid Business for $634 Million
By David Sachs
Haleon will sell a significant portion of its nicotine-quitting aid business to Dr. Reddy's Laboratories, an India-based pharmaceutical company, in a 500 million-pound ($634.2 million) deal.
This move, which is limited to its business outside the U.S., will streamline Haleon's portfolio, but will affect the London- and New York-listed healthcare company's revenue and profitability this year. The sale will dilute revenue by 0.5% and operating profit by 1%, Haleon said.
The sale includes nicotine replacement therapies such as patches, lozenges, and gum under brands like Nicotinell, Nicabate, Habitrol, and Thrive.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 26, 2024 08:32 ET (12:32 GMT)
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