Nothing makes analysts happier these days than a prospective spinoff. And with a new chairman stepping in to help conduct the ongoing strategic review of the struggling Reckitt Benckiser pharma unit, some say one could be on the way for the British group.
European antitrust watchdogs have struck again. As Reuters reports, France's competition authority has fined Merck's Schering-Plough unit €15.3 million ($21 million) for a "smear campaign" against generic competitors to Subutex, a drug for opioid addication.
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.