Reckitt deflects prospect of infant nutrition spin-off amid US litigation [Yahoo! Finance]
RECKITT BENCKISR GP S/ADR (RBGLY)
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Source: Yahoo! Finance
Mead Johnson, which produces the Enfamil and Nutramigen formula brands, is facing the prospect of incurring as much as £2bn ($2.5bn) in damages related to the life-threatening necrotizing enterocolitis (NEC) disease, which effects premature babies. According to Barclays, which put forward the worst-case-scenario for damages in March, there are around 400 NEC cases pending in the US. The report followed Reckitt's award of £60m to Jasmine Watson, the mother of a baby who died from the disease, after being fed Enfamil Premature 24 powder produced by Mead Johnson. As Reckitt reported first-quarter group revenue of £3.7bn, Licht was questioned on an analyst call over the prospect of spinning off Mead Johnson, which sits within the company's nutrition unit, the smallest of its three business areas. “It is not prudent, I think, to speculate right now on structural moves that we may or may not consider,” Licht responded. “We are spending a lot of time thinking about how to best navig
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