Federal agents reportedly carried boxes of documents out of the Reckitt Benckiser headquarters in Virginia on Tuesday. The officials did not disclose the purpose of the warrant.
We know Reckitt Benckiser is shopping its pharma unit. We also know that Shire is scouting for deals. Does it follow that Shire may bid on RB Pharma? Logically, yes. Practically? Maybe.
Reckitt Benckiser has said the time to weigh options for its pharmaceuticals unit would come after its flagship drug, Suboxone, fell victim to generic competition. That time is now. The British consumer goods group says it's reviewing options for its pharma business, including a possible sale that could grab upwards of $3.2 billion.
The U.K.-based company had petitioned the agency to block the copycat versions on packaging grounds.
Reckitt Benckiser has nabbed Latin American rights to a basket of Bristol-Myers Squibb's ($BMY) over-the-counter products for a cool $482 million.
When Bayer agreed to buy U.S.-based vitamin-and-OTC drug maker Schiff ($SHF), the company's reasoning went something like this: Let's supplement our risky pharma business with some steady, reliable, low-risk revenue. It's less profitable and less sexy, but sometimes, less can be more.
If you were looking for a bidding war over Schiff Nutrition to give your Thanksgiving feast an ironic twist, you're going to be disappointed. Bayer says it's patently not interested in trumping Reckitt Benckiser's $1.4 billion offer.
The aggressive diversification campaign of Bayer CEO Marijn Dekkers has been checked, at least temporarily, by Reckitt Benckiser Group, which has moved on Schiff Nutrition International with a bid of its own.
Reckitt Benckiser is taking another stab at rivals to its Suboxone Film product. Reckitt announced it had petitioned FDA to require rival drugmakers to package their buprenorphine drugs in child-resistant, individually packaged doses.
Reckitt Benckiser plans to pull its heroin replacement tablets in the U.S., thanks to new data showing that the Suboxone pills were more likley to be swallowed accidentally by children than other formulations were. In making this voluntary sacrifice, the company puts its alternative Suboxone product--a film version that dissolves on the tongue--in line for increased sales.