Reckitt Benckiser to spin off pharmaceuticals business as Indivior

Reckitt Benckiser has confirmed the full details of its plans to demerge its pharmaceuticals business, creating a new standalone company as of next month.

To be called Indivior, the new organisation will be based in the UK, with the demerger process expected to be completed and Indivior shares to commence trading on December 23rd 2014.

The move will allow Reckitt Benckiser to refocus itself completely as a consumer health and hygiene company, while the profile and potential risks and rewards of Indivior will be better understood as a standalone specialty pharmaceuticals business.

Shaun Thaxter, chief executive officer of Indivior, said: "Our full team … is energised by the opportunity to continue leveraging our unique patient-focused leadership model to expand availability of addiction treatment and improve patient lives across the globe."

As a result of this separation, Reckitt Benckiser now expects to achieve its goal of between four and five percent growth for the full year. For 2014 to date, its revenue figure stands at 7.04 billion pounds.