Dr Reddy's Labs acquires Habitrol brand

City-based drugmaker Dr Reddy's Laboratories has acquired Habitrol brand, a nicotine replacement therapy transdermal patch, from Novartis Consumer Health Inc.

According to a statement issued by the drug major, the acquisition of Habitrol brand (an over-the-counter nicotine replacement therapy transdermal patch) from Novartis Consumer Health Inc was done following issuance of the proposed consent order from the US Federal Trade Commission (FTC) on November 26.

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

The company had earlier entered into an asset purchase agreement with Novartis Consumer Health to acquire the title and rights of Habitrol brand and to market the product in the US market, it added.