Dr. Reddy'S Laboratories S.A. signed a definitive agreement to acquire Northstar Switzerland SARL from Haleon plc for £500 million.
The closing of the transaction is subject to satisfactory completion of customary closing conditions including the applicable waiting periods under applicable merger control and transaction is expected to close by early Q4 of calendar year 2024. The proceeds from the transfer of inventory will be received within the same timeframe. Use of the net cash proceeds will be determined in line with capital allocation priorities, including reducing leverage. Assuming completion of the transaction in early Q4 2024, this divestment is expected to dilute FY 2024 net revenue and adjusted operating profit by c. 0.5% and c. 1% respectively.