Dr Reddy's Laboratories Ltd on Friday (September 27) said it has invested $620 million in its wholly-owned subsidiary Dr Reddy's Laboratories SA, Switzerland (DRL SA). The investment is in line with the company's board-approved investment of up to 500 million pounds ($640 million) to acquire the Nicotinell brand and related assets from Helion Group.

DRL SA has issued 6.2 million non-convertible preferential shares to Dr Reddy's Laboratories, each valued at $100. DRL SA will use the capital raised to acquire Northstar Switzerland SARL, which owns the Nicotinelle brand. The investment in DRL SA is categorized as a related party transaction as it is a wholly-owned subsidiary of Dr Reddy's. Stock performance The company's stock closed at Rs 6,745, up 0.0089 per cent on Friday. The stock's 52-week high is Rs 7,107.45 and the company's stock has gained 24.24 per cent in the last one year.