Dr. Reddy's Laboratories completes acquisition of Habitrol® Brand from Novartis

Dr. Reddy's Laboratories has closed the acquisition of Habitrol® brand (an over-the-counter nicotine replacement therapy transdermal patch) from Novartis Consumer Health Inc. following issuance of the proposed consent order from the U.S. Federal Trade Commission (FTC) on November 26, 2014. The company had earlier entered into an asset purchase agreement with Novartis Consumer Health Inc. to acquire the title and rights of Habitrol® brand and to market the product in the U.S. market.

With this closure, the company has assumed responsibility for the product and will commence shipments of the product in the market shortly.

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.3191.05 as compared to the previous close of Rs. 3150.5. The total number of shares traded during the day was 22780 in over 4014 trades.

The stock hit an intraday high of Rs. 3221 and intraday low of 3171. The net turnover during the day was Rs. 72961158.

Source : Equity Bulls

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