Reckitt Benckiser

Reckitts Troubled Pharmaceutical Arm Posts Better –than-expected Sales Figures

Reckitt Benckiser the makers of Dettol and Durex condoms yesterday hinted towards follow-on of its pharmaceuticals arm that was much in trouble earlier. This happened as it posted a sales figure during the fourth quarter that was better than what was actually expected out of it.

Colin Day’s Departure Affects Shares

Colin Day, 55, is said to have joined Reckitt as Chief Financial Officer in the year 2000. He along with Reckitt's Chief Executive, Bart Becht are said to have built a very profitable business.

Bart Becht, has come out to be the most highly-paid Executive in the FTSE 100. Reckitt has been doing an excellent job with brands like Vanish stain remover, Finish dishwasher powder and Veet hair-removal cream.

OFT Imposes Fine of £10.2m on Reckitt for Abusing Market Dominance

On Friday, the Office of Fair Trading imposed a fine of £10.2m on pharmaceuticals and domestic products maker Reckitt Benckiser for exploiting its market dominance in association to the National Health Service.

The Company agreed that it ceased supplying its heat burn treatment Gaviscon Original Liquid illegally, in wake of its patent expiry and to encourage the sales of its somewhat same named Gaviscon Advance Liquid, whose patent expiry is due in 2016. As such an activity is prohibited under competition law, so the Company was inflicted with penalty.

Reckitt Benckiser reported fall in sales because of the troubled European growth

The firm behind the household brand like Vanish and Cillit Bang, Reckitt Benckiser has reported a slip in its sales in this quarter in Europe. The chief executive of Reckitt Benckiser, Mr. Bart Becht has said the sales growth fell down sharply in Europe.

According to him Europe is the major region for the business of the firm and the company generates sales of more than 40% of its total from that region.

Reckitt plunging up with 23 percent

The fabricator of Nurofen painkillers, Cillit Bang cleaners and Lysol disinfectants marked its second-quarter net profits of 380 million pounds, which has plunged ahead of the forecast of 363.4 million and a unit accord of 365 million.

Reckitt has agreed to purchase SSL for 2.54 billion pounds, and expressed that if the bid becomes successful, then it may close the deal in the fourth quarter of 2010.

Shares in SSL surpassed Reckitt’s latest cash offer price of 1,163p

Consumer goods giant Reckitt Benckiser offered £2.54 billion to acquire Durex condom-maker SSL International, in a move that pushed shares in SSL up.

Earlier, Reckitt Benckiser made three offers during the last five-week period, but SSL rejected all the three offers.

Reckitt Benckiser’s latest offer pushed shares in SSL up by 33 per cent to 1,177p, surpassing even the latest cash offer price of 1,163p as speculations are flying high that a rival bidder could come out soon.