SLOUGH, England — Reckitt Benckiser on Monday announced the company will be looking to spin off its pharma business in the next 12 months.
"We believe that RB Pharmaceuticals has the potential to deliver significant long term value creation as a stand-alone business. We have therefore decided to pursue a demerger of RB Pharmaceuticals with a separate U.K. listing," stated Rakesh Kapoor, RB CEO. "We expect this to take place over the next 12 months. This will also allow RB to focus on its core strategy to be a global leader in consumer health and hygiene."
"Our focus and investment behind consumer health continues to deliver profitable growth, and our hygiene category is improved after a slow start. ... It is early days but we have made good progress on integrating our recent K-Y acquisition," he noted.