Reckitt Benckiser to develop drug overdose treatment

Reckitt Benckiser Group’s pharmaceuticals unit plans to develop a nasal spray to treat overdoses of heroin and some prescription painkillers, the company said on Monday. Reckitt, better known for its Mucinex cold medicine and Durex condoms, said it had entered into an agreement with AntiOp Inc to co-develop the spray, with the option to buy all rights to it upon receipt of regulatory and marketing approval. The deal diversifies Reckitt’s shrinking pharmaceuticals unit, which is currently the subject of a strategic review as it sits outside the company’s core business in consumer products. This is the second such deal in less than a week and could help the company get a better valuation in a market flotation of the unit, which is what Reckitt has said it was leaning toward.
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