Dr. Reddy’s closes acquisition of Novartis’ Habitrol brand

December 19, 2014 12:21 pm | Updated 12:21 pm IST - Hyderabad

Dr. Reddy’s Laboratories on Friday announced that it has closed the acquisition of Habitrol brand from Novartis Consumer Health. File photo

Dr. Reddy’s Laboratories on Friday announced that it has closed the acquisition of Habitrol brand from Novartis Consumer Health. File photo

Dr. Reddy’s Laboratories on Friday announced that it has closed the acquisition of Habitrol brand from Novartis Consumer Health.

Habitrol is an over-the-counter nicotine replacement therapy transdermal patch. The acquisition was completed following the U.S. Federal Trade Commission issuing the consent order on November 26, a press release from the company said.

DRL had earlier entered into an asset purchase agreement with Novartis to acquire the title and rights of Habitrol brand and to market the product in the U.S. market.

With this closure, DRL has assumed responsibility for the product. Shipments of the product in the market will commence shortly, the release said.

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