Reckitt Benckiser to demerge pharmaceutical unit

|About: Reckitt Benckiser Group Pl... (RBGLY)|By:, SA News Editor

Reckitt Benckiser (OTCPK:RBGLY) states that it will pursue a demerger of its pharmaceutical division, allowing it to put a greater focus on its core consumer health and hygiene business.

The spinoff will occur in the next 12 months - becoming a separate U.K.-listed company.

The announcement follows the Reckitt Benckiser's 7% drop in second-quarter revenue which fell to £2.3B from £2.5B Y/Y.