Reckitt Benckiser to spin off pharmaceuticals business

British consumer goods manufacturer Reckitt Benckiser said Monday it will seek to spin off its pharmaceuticals business by issuing shares to existing shareholders.

Expected within the next 12 months, the spin-off would allow Reckitt Benckiser to focus on its core consumer health and hygience businesses, including products such as Clearasil acne treatments, Lysol cleaning products and Durex condoms, according to the New York Times.

Reckitt Benckiser, which has a presence in Springfield, reviewed its pharmaceuticals business, which makes the bulk of its money off of Suboxone, a drug to treat dependence on heroin and other opiates.

Read more from the New York Times.