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Reckitt Benckiser Group Plc. (RBGPF)

- OTCPK - Current
  • Fri, Apr. 24, 9:07 AM
    • Consumer products giant Reckitt Benckiser (OTCPK:RBGLY, OTCPK:RBGPF) reports revenue rose 5% (like-for-like) to £2.216B ($3.35B) in Q1 to top expectations.
    • Sales in North America were up 13% on a reported basis due to the impact of the strong U.S. dollar.
    • The company's pace of sales in emerging markets trailed peers, but its health unit provided a double-digit sales lift.
    • The company's says it on track to meet revenue targets and moderate to "nice" operating margin expansion.
    • Shares of Reckitt rose over 1% in London trading.
    • Reckitt Benckiser earnings release.
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  • Fri, Apr. 17, 10:39 AM
    • Heinz is making a big push into mustard in the U.S.
    • The Berkshire/3G company has launched its "Ketchup's Got a New Mustard" campaign with a strong focus on its mustard product's use of 100% natural ingredients.
    • Heinz and Kraft have a merger in the works that will give the combined company a big slice of the condiments market.
    • Major U.S. mustard sellers: Reckitt Benckiser (OTCPK:RBGLY, OTCPK:RBGPF), Kraft Foods (NASDAQ:KRFT), ConAgra (NYSE:CAG), and McCormick (NYSE:MCK).
  • Dec. 16, 2014, 10:26 AM
    • LightLake Therapeutics (OTCQB:LLTP +8.1%) enters into a license agreement with Adapt Pharma Limited subsidiary Adapt Pharma Operations Limited to develop and commercialize LightLake's intranasal naloxone opioid overdose reversal treatment. Under the terms of the contract, LightLake is eligible to receive as much as $55M in development- and sales-based milestones plus double-digit royalties.
    • In a clinical trial, data showed that LightLake's technology can potentially deliver naloxone into the blood stream as quickly as an injection, which is the current approach used by hospitals and first responders treating opioid overdoses. The company initiated a second study on December 4.
    • In May, Reckitt Benckiser (OTCPK:RBGPF) (OTCPK:RBGLY) (OTC:RBGPY) entered into a collaboration with Lexington, KY-based AntiOP to develop a naloxone nasal spray.
    • Previously: Reckitt Benckiser inks development deal for naloxone spray (May 19, 2014)
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  • Nov. 17, 2014, 6:13 AM
    • Reckitt Benckiser (OTCPK:RBGLY) is planning to proceed with a spinoff of its pharmaceutical unit to existing shareholders next month.
    • Shareholders are expected to consider plans of the spinoff (to be called Indivior) at a meeting on Dec. 11. If approved, the business would begin trading on the London Stock Exchange on Dec. 23.
    • The pharmaceutical unit had revenue of $1.2B and profit of $489M in 2013, with about 80% of its revenue from the U.S.
    • Previously: Reckitt Benckiser to demerge pharmaceutical unit
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  • Jul. 28, 2014, 4:48 AM
    • 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.
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  • Jul. 21, 2014, 8:56 AM
    • German private equity firm Aurelius has agreed to buy Reckitt Benckiser's (OTCPK:RBGLY) Scholl shoe business. The company is expecting the brand to expand internationally and maintain growth.
    • Aurelius will acquire the international rights to the business, except for North and South America, which will go to Bayer (OTCPK:BAYRY) as part of its $14B purchase of Merck (NYSE:MRK).
    • The deal is expected to close in the third quarter of 2014.
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  • Apr. 27, 2014, 1:23 AM
    • Merck (MRK) could agree a deal to sell its consumer healthcare operations this week for almost $14B, Reuters reports, with Germany's Bayer (BAYRY) and U.K.-based Reckitt Benckiser (RBGLY) the frontrunners to buy the unit.
    • Other healthcare consumer giants have also also shown interest in the business, including Procter & Gamble (PG), Novartis (NVS) and Sanofi (SNY).
    • Merck is looking to sell the operations as it only holds around 1% of the market.
    • A deal would be the latest in a wave of blockbuster transactions to have swept the healthcare sector recently, such as Pfizer's $100B+ reported offer to acquire AstroZeneca, Valeant and Bill Ackman's $47B play for Allergan, Zimmer's agreement to purchase Biomet for $13.35B, and a series of deals involving Novartis, GlaxoSmithKline and Eli Lilly.
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  • Apr. 22, 2014, 10:42 AM
    • WSJ's Hester Plumridge reports on the reasons GlaxoSmithKline (GSK +4.6%) exits the cancer space despite its substantial long-term growth prospects.
    • The move enables the firm to focus on its core businesses in respiratory, HIV, vaccines and consumer health with the intent of improving operating margins. These four areas constitute 70% of its revenue. The remaining 30% is evenly split between its legacy products and metabolic/cardiovascular. It intends to retain the latter and divest the former.
    • The $16B sale of its cancer business to Novartis (NVS +1.5%) delivers substantial value for shareholders considering its relatively modest top line of $1.6B and the lack of promising immunotherapies. Glaxo ranks a distant fourteenth in market share with little hope of making headway versus the dominant players.
    • Earlier this month, Glaxo stopped the development of IMAGE-A3, its once-promising cancer vaccine. The firm will continue some cancer-related R&D but Novartis will have commercial rights to all future products.
    • With the inclusion of Novartis' vaccine business Glaxo is the global leader in market share and scale.
    • The consumer health joint venture will have the heft to compete more effectively with Reckitt Benckiser Group (RBGPF +0.1%), Colgate-Palmolive (CL -0.5%) and Unilver (UN +0.1%). Glaxo is the dominant partner with a 63.5% stake. It has the option of buying out its partners or selling its holdings in three years.
    • Glaxo expects to save ~$1.3B per year due to improved operational efficiency in vaccines and consumer health.
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  • Apr. 16, 2014, 8:33 AM
    • Reckitt Benckiser (RBGLY) could spin off its declining pharmaceuticals operations, saying that the idea is "emerging as a strong option." However, selling the business or even keeping it are still possible.
    • The division's net sales dropped 15% in Q1 to £170M.
    • Total net revenues declined 6% to £2.37B.
    • Shares are +0.3% in London. (PR)
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  • Mar. 25, 2014, 7:26 AM
    • Sanofi (SNY) has joined the auction for Merck's (MRK) over-the-counter health-products business, Bloomberg reports.
    • Final offers could value the unit at $10-12B and are due in next week.
    • Reckitt Benckiser (RBGLY) is the frontrunner, having become the most aggressive bidder.
    • "OTC assets are highly desirable for market incumbents as almost no additional infrastructure is required," says Barclays. Merck's unit would be a "good fit" geographically for Sanofi, as 70% of its revenue comes from the U.S.
    • Other interested parties include Bayer (BAYRY).
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  • Mar. 10, 2014, 9:05 AM
    • Johnson & Johnson (JNJ) has agreed to sell the global rights to its K-Y brand of intimate lubricants to Reckitt Benckiser (RBGLY).
    • While the price of the deal wasn't provided, Reckitt did say that K-Y had 2013 sales of over $100M, the majority of which was generated in the U.S. Canada and Brazil.
    • K-Y adds to Reckitt's Durex brand.
    • The transaction doesn't include staff or fixed assets. (PR)
  • Feb. 20, 2014, 4:33 AM
    • Novartis (NVS) and Bayer (BAYRY) are among the suitors that are exploring an acquisition of Merck's (MRK) consumer-healthcare business, Reuters reports, adding that the unit could be worth $10-12B.
    • Reckitt Benckiser (RBGPF) and Procter & Gamble (PG) are also among the companies to have held talks with Merck about a deal. However, GSK (GSK) is not interested.
    • Novartis and Merck have considered swapping the latter's consumer-healthcare operations for Novartis' animal-health and human vaccines businesses, although such a deal is looking unlikely.
    | 1 Comment
  • Dec. 19, 2013, 2:21 PM
    • The French Competition Authority dishes out some €16M in fines for the allegedly anti-competitive tactics employed by Schering-Plough (MRK -0.6%) and Reckitt Benckiser in marketing the opioid addiction treatment Subutex back in 2005.
    • The move is tied to a complaint filed by Actavis (ACT -0.2%) unit Arrow Generiques which claims Schering-Plough spoke ill of a generic version during sales calls and "granted pharmacists unjustified discounts to prompt them to stock up on Subutex instead," Reuters notes.
    • MRK is "reviewing the decision."
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  • Nov. 22, 2013, 4:46 PM
    • Suboxone maker Reckitt Benckiser (RBGPF) hires Morgan Stanley to consult on strategic options for its pharmaceuticals business, Reuters says, citing sources.
    • Last month, FT called the pharma unit a "poisoned chalice," as generic competition is set to eat away at Suboxone's once dominant market position.
    • Best guesses on the value of the business fall somewhere between $3-9B.
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  • Oct. 22, 2013, 3:45 PM
    • "Opiate addiction treatment remains extremely difficult, requiring negotiations with social services, the police, regulators and public health authorities, often in the face of hostile public opinion," FT says, summarizing comments made by a "senior drug executive."
    • The FT piece highlights a tough road ahead for Reckitt Benckiser (RBGPF +6.8%) as it tries to find a buyer for its pharmaceuticals business which is anchored by the opioid addiction treatment Suboxone.
    • FT calls the pharma unit a "poisoned chalice," noting that generic competition will further complicate an already arduous task.
    • Previous: Reckitt Benckiser considering options for pharma business
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  • Oct. 22, 2013, 11:07 AM
    • Reckitt Benckiser (RBGPF +6.1%) — which turned in Q3 results Tuesday that beat analyst expectations — may look to sell its pharmaceutical business in a bid to concentrate on consumer products.
    • Sales of the opioid addiction treatment Suboxone fell 14% in Q3 and the company now faces generic competition for the drug.
    • Analysts believe the pharma business could be worth between $3-9B — "the wide range [is] due in part to the uncertainty over the impact of generic competition on Suboxone," Reuters notes.
    • Other sources indicate that the company may be interested in selling its Scholl footwear business.
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Company Description
RB is a global force in household, health and personal care. Its 19 Powerbrands, in high growth categories, take a disproportionate share of RB's top end marketing investment. Powerbrands drive over 70% of growth. Innovations launched in the last 3 years generate around 30% net revenue.<br /><br... More