SLOUGH, England — Second-quarter net revenue increased to 2.34 billion pounds ($3.83 billion) for Reckitt Benckiser, the company announced in an earnings statement Monday.
The company attributed its increases to growth in developing markets. For the quarter, RB said net revenue increased by 13% and 5% on a like-for-like basis. LFL growth excludes the impact of changes in exchange rates, major acquisitions and disposals, RB noted.
"Growth in the base business was driven in particular by an excellent result in developing markets, and was boosted by innovations, such as the continued rollout of the Dettol no-touch hand soap system into new markets, as well as a significant level of investment in media and promotional spend," Reckitt Benckiser CEO Bart Becht said.
The company said that it fears that its heroin dependency treatment Suboxone will lose its patent protection in the United States, thus opening up the market for generic competition.
"At the end of June 2011, the Suboxone film had captured a 41% volume share of the U.S. market: as a result, Suboxone tablets in the U.S. now represent less than 50% of total RBP net revenue," Becht noted.
The company added that it expects to achieve an increase of 12% for its full-year revenues.