Philadelphia, Pennsylvania – Plexus Ventures is pleased to announce the successful completion of its 10th product divestment for Novartis AG. Plexus provided professional services to Novartis Consumer Health, Inc. in the divestiture of U.S. commercial rights to Habitrol®, a nicotine replacement patch, to Dr. Reddy’s Laboratories Ltd.
“Plexus Ventures has now concluded five successful divestments for Novartis Consumer Health and another five divestments for Novartis Pharmaceuticals. We have managed some 30 divestment projects on behalf of major pharmaceutical companies including AstraZeneca, Ferring, GlaxoSmithKline, Meda, Reckitt Benckiser and Sigma-Tau” noted Bob Moran, Plexus Ventures’ President.
Additional details regarding the Habitrol® transaction, taken from Dr. Reddy’s December 19, 2014 press release are included below:
Dr. Reddy’s Laboratories closes the acquisition of Habitrol® Brand from Novartis
Hyderabad, India, December 19, 2014
Dr. Reddy’s Laboratories has announced that it 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.
