What are the most significant cases or transactions that you have been involved in over the past year?

We did two large transactions last year, where the global legal and compliance team led and contributed, beyond their scope. These are: Dr. Reddy’s Laboratories announced that its subsidiary has signed a definitive agreement with Haleon for the purchase of shares of Northstar Switzerland, a Haleon group company, to acquire Haleon’s global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy (NRT) category outside of the United States. The portfolio to be acquired consists of Nicotinell, a global leader in the NRT category with an extensive footprint in over 30 countries spanning Europe, Asia including Japan, and Latin America, and local market-leading brand names of the product – Nicabate in Australia, Thrive in Canada, and Habitrol in New Zealand and Canada. The proposed acquisition will be inclusive of all formats such as lozenge, patch, gum as well as pipeline products, in all applicable global markets outside of the United States.

Nicotinell is the second biggest brand globally (excluding the United States) in the NRT category. It holds the first or second position in 14 of the top 17 global markets, with the lozenge/mini lozenge format holding top position globally. Nicotinell ranks among the top 15 biggest brands among all OTC brands in Europe (excluding Russia, Italy), and ranks 32 among all OTC global brands (excluding the U.S.). In CY’23, the portfolio generated approximately GBP 217 mi in revenue.

Dr. Reddy’s will acquire the share capital of Northstar Switzerland for a total consideration of GBP 500 m with an upfront cash payment of GBP 458 m, and performance-based contingent payments of up to GBP 42 m, payable in 2025 and 2026.

Nestlé India Limited and Dr. Reddy’s Laboratories announced that they have entered into a definitive agreement to form a joint venture (JV Company) to bring innovative nutraceutical brands to consumers in India and other agreed territories. The partnership will bring together the well-known global range of nutritional health solutions as well as vitamin, minerals, herbals and supplements of Nestlé Health Science (NHSc) with the strong and established commercial strengths of Dr. Reddy’s in India. The joint venture will help JV Partners combine their strengths and grow their complementary nutraceuticals portfolios in categories such as metabolic, hospital nutrition, general wellness, women’s health and child nutrition for consumers across India.

The JV Company will be headquartered in Hyderabad. The JV Company will leverage the capabilities as well as services of the Nestlé Group and Dr. Reddy’s. Select brands will be licensed by JV Partners to the JV company. The Nestlé Group will license brands such as Nature’s Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal and Resource Dialysis. Dr. Reddy’s will license brands such as Rebalanz, Celevida, Antoxid, Kidrich-D3, Becozinc in the nutrition, and OTC segments. The JV Company is expected to become operational in Q2 of FY’25.

Based on your experience, what is the key to collaborating successfully with business partners?

The key to collaborating with business partners is engagement with them. I have clearly suggested my team (at all levels) to prepare an engagement plan with stakeholders at all levels. This is structured engagement whereby they will connect and talk with key stakeholders by-weekly or monthly. The purpose of this engagement is to understand business requirement much in advance and decide on a plan of action. This engagement serves many other purposes: (i)develops comfort between business and GLC, (ii) proactive approach towards business needs, and (iii) problem-solving together.

Apart from legal matters, has the team worked on other company initiatives you would like to highlight?

GLC team is encouraged to go above and beyond for the legal and compliance function. They are encouraged to think how can they contribute to business more, by reducing the risks, by identifying more opportunities for business, by finding more ways to contribute to top line and bottom line. This is done various ways: by interpreting law (identifying new business areas thereby), by enforcing laws and contract clauses, by finding ways to do structure business better so that its more productive.

How do you motivate and manage the other members of your legal team well?

Again, engagement plays a big role here. I try to engage each and every member of my team and try and understand their skill set and their aspirations. Then I try to match this with open opportunities. This creates opportunities for the team within the company. In addition: I have created various cross functional training for them. I also empower and encourage my team to take their own decision thereby creating their own accountability.