Reckitt Benckiser demerges pharma biz to form Indivior

Following the statement made by Reckitt Benckiser Group Plc (RB) on July 28, 2014 that it was pursuing a demerger of the RB Pharmaceuticals (RBP) business with a separate UK listing, Reckitt Benckiser has announced the demerger of its pharmaceuticals business to form a new entity, Indivior Plc.
 
New demerged RBP company will be UK domiciled and admitted to the premium listing segment of the Official List and traded on the London Stock Exchange’s main market for listed securities. Reckitt Benckiser’s general meeting will be held on December 11, 2014 to approve the Demerger.
 
The Board of RB considers that the demerger is in the best interests of both RB and Indivior and will result in a stronger future for both RB and Indivior, with the Boards of each company focused on developing their respective businesses into leaders in their specific sectors. In particular, the Board of RB considers that the profile and potential risks and rewards of Indivior, as a specialty pharmaceuticals company, will be better understood as a standalone listed business. Reckitt Benckiser will continue its focus on consumer health and hygiene products.
 
Howard Pien, Chairman of Indivior, said, “Indivior, under the leadership of Shaun Thaxter, has built a global, industry leading company in addiction treatment. The business has a profitable opioid addiction business and a strong pipeline that has the potential to revolutionise how the chronic disease is treated worldwide. I, and our newly formed Board, are delighted to lead Indivior through its next stage of evolution."
 
Shaun Thaxter, CEO of Indivior, said, “I look forward to partnering with the Indivior Executive Committee and Board to further build upon the strong foundation set by Reckitt Benckiser Pharmaceuticals under the guidance of RB as we transition to a sustainable, stand-alone organisation.”