Reckitt to float pharmaceutials arm in London July 28, 2014 Reckitt Benckiser, the owner of Nurofen painkillers and Dettol cleaning products, is to spin-off its pharmaceuticals business as it focuses on growing its core consumer brands. The FTSE 100 company said yesterday that a demerger of its RBP unit would take place over the next 12 months with a separate listing on the London Stock [...]
Bottom Line: Reckitt’s heroin spin-out faces hurdles July 28, 2014 What do throat sweets and heroin substitutes have in common? Not a lot, if you happen to be Reckitt Benckiser boss Rakesh Kapoor. His plan to de-merge Reckitt’s opiate business from household brands such as Strepsils and Dettol seem eminently sensible on the surface – but could prove more difficult in practice. Analysts suggest a [...]
London Report: Fall in financials brings London’s market down July 28, 2014 THE FTSE 100 yesterday ended down after weak US housing data discouraged investors in America and Europe during a data-light European day. The blue chip index lost 0.1 per cent to close at 6,788.07. Earlier in the day it had traded as high as 6,809.61, but moved lower together with other markets after pending home [...]
Reckitt Benckiser share price up on pharmaceutical business spin off July 28, 2014 Reckitt Benckiser’s share price opened almost two per cent higher this morning, up by more than three per cent at its peak, after announcing it will spin off its pharmaceutical business into a separately listed company over the next 12 months. The maker of household brands such as Nurofen confirmed the move which has been [...]
London Report: Home lending up but rise in UK prices is slowing July 27, 2014 MORTGAGE approvals figures appear likely to show the housing market is moving again, after tough new MMR loan tests slowed lending figures. However, house price data due on Thursday suggests prices may not be soaring as much as earlier this year. They are expected to have risen 0.5 per cent month-on-month in July – the [...]
Amlin’s Formula-E race car partnership puts pedal to the metal June 30, 2014 Lloyd’s-based reinsurance company Amlin gave lunching City-ites something to gawk at yesterday with the unveiling of its new sponsorship target, a Formula-E race car and British race-driver Katherine Legge. What the bejeezus is Formula-E? It’s like your bog standard Formula One except the cars are electric rather than gas guzzling. They also race internationally, [...]
Shareholders revolt over pay at Reckitt and Ocado May 7, 2014 OCADO and Reckitt Benckiser have become the latest companies to suffer an investor backlash over pay for the most senior staff. About 20 per cent of investors in the online grocer voted against the remuneration report while 13 per cent opposed Ocado’s pay policy. A person familiar with the situation said Ocado’s board had consulted [...]
Reckitt steps down from Merck sale discussions after two days April 30, 2014 RECKITT Benckiser announced yesterday that it has given up on talks with pharmaceutical giant Merck about purchasing the firm’s $14bn (£11.5bn) consumer healthcare arm. Reckitt was rumoured to be the most likely buyer earlier this month, but did not admit until a statement on Monday that the two groups were in active discussions over the [...]
New York Report: High growth sectors give a lift to US stocks April 29, 2014 US STOCKS rose yesterday, boosted by upbeat results from companies including Merck and a rebound in Facebook and other high-growth shares. Merck’s shares climbed 3.6 per cent to $58.72, giving the S&P 500 its biggest lift, after it reported stronger-than-expected earnings. Further deal activity on the healthcare front also lifted the market. UK firm Reckitt [...]
Reckitt hints at spinning off its drugs business April 16, 2014 RECKITT Benckiser signalled yesterday that it is leaning towards a spin-off of its troubled pharmaceuticals arm as it posted a better-than-expected rise in fourth quarter sales. The consumer goods group behind Durex condoms and Dettol cleaning products last year launched a strategic review of its RBP unit, which is focused on the drug Suboxone used [...]