Reckitt Benckiser to spin out pharma business
Reckitt Benckiser Group plc (LSE:RB) disclosed in its 2Q14 earnings that it plans to spin out Reckitt Benckiser Pharmaceuticals Inc. -- its pharmaceutical business -- with a separate listing on the London Stock Exchange over the next 12 months. Last year, Reckitt said it was exploring strategic options for the business, which had 1H14 revenues of L344 million ($588.4 million) -- down 8% in constant currencies from 1H13.
RB Pharmaceuticals' sole marketed product is Suboxone buprenorphine/naloxone sublingual film to treat opioid dependence. The product was developed using PharmFilm thin film technology from MonoSol Rx LLC (Warren, N.J.). RB is developing a pipeline of addiction products that includes RBP-6000, a once-monthly injectable formulation of buprenorphine that has completed Phase II testing to treat opioid dependence; RBP-6300, an abuse-deterrent tablet formulation of buprenorphine in Phase II testing in the same indication; and naloxone nasal spray, which Reckitt said is in Phase I/III testing for opioid addiction. ...