Haleon PLC (GB:HLN) has released an update.
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Haleon PLC has announced the sale of its nicotine replacement therapy business outside the U.S. to Dr. Reddy’s Laboratories for £500 million, including an upfront payment and deferred performance-based consideration. The divestment aligns with Haleon’s strategy to streamline operations and focus on strategic growth areas, with expectations of a slight dilution in net revenue and adjusted operating profit for FY 2024. CEO Brian McNamara believes the move will make Haleon more agile and competitive, while the NRT brands are set to thrive under Dr. Reddy’s.
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