A company dubbed a “great British success story” by George Osborne last week is expected to reveal plans to demerge a large part of its business today.
Reckitt Benckiser, the maker of Nurofen and Cillit Bang, is likely to confirm it will spin off RBP, its American pharmaceuticals division, when it announces half-year results this morning.
The manufacturer said last year that it was carrying out a strategic review of the division, which primarily makes Suboxone, a drug that treats people with heroin addiction.
Three months ago when it reported its first-quarter results, it said that a “capital markets solution was the most likely outcome” rather than a sale, meaning it would spin off RBP to its existing shareholders and grant them shares in a