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Reckitt buys drug firm for £1.1bn

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Household goods firm Reckitt Benckiser has revealed it is taking further steps into the pharmaceutical industry with the acquisition of a US firm.

The Anglo-Dutch company has agreed a £1.1bn takeover for Nasdaq-listed Adams Respiratory Therapeutics.

Reckitt will take over brands such as the cough medicine Delsym and decongestant Mucinex, which are both sold over the counter in US pharmacies.

The deal will boost its existing healthcare range, which includes Strepsils and Nurofen, which were bought from Boots Healthcare International last year for £1.93bn.

Reckitt already controls brands such as Disprin, Lemsip, and Gavescon, as well as the household products Cillit Bang, Dettol detergent and Calgon water softener.

The firm’s chief executive Bart Becht said the agreement is a “step forward” in the company’s consumer healthcare drive.

He added: “The growth potential of the business, the importance of gaining an entry in the USA healthcare market and the synergies available make Adams a very attractive addition to our portfolio.

“We have already shown with the acquisition of Boots Healthcare International that we can generate shareholder value in consumer healthcare.”

New Jersey-based Adams employs 500 staff, and has a manufacturing site in Texas. The takeover still has to be approved by competition regulators in the US.

Copyright © PA Business 2007

Reckitt Benckiser



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