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Reckitt Benckiser Confirms Plans to Spin Off Suboxone Unit

Reckitt Benckiser Group Plc will spin off its pharmaceutical unit after concluding the business that once accounted for a fifth of earnings doesn’t fit into Chief Executive Officer Rakesh Kapoor’s plan to focus on consumer health.

The spinoff will occur in the next 12 months and will listed in the U.K., the Slough, England-based company said in a statement. Reckitt Benckiser may still sell the business and could maintain a stake after a spinoff, finance chief Adrian Hennah said in an interview today. The division gets almost all of its 780 million pounds ($1.3 billion) of revenue from Suboxone, a drug to treat addiction to opioids including heroin that’s the market leader in the U.S.