RB Predicts 'Challenging' Rest Of Year For OTC Business
Reckitt Benckiser is expecting its OTC sales to be hit by a weak cold and flu season this year, as the social distancing measures introduced to quash the COVID-19 outbreak also disrupt the circulation of seasonal illnesses.
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Consumers' significant shift to buying more health products online likely is a permanent trend, says RB CEO Laxman Narasimhan. A 37.4% jump in North America on health product stockpiling drove 13.6% growth in global health business sales.
Reckitt Benckiser's new CEO Laxman Narasimhan has unveiled a turnaround plan which will see the company's OTC drugs and dietary supplements housed in a separate business to its infant nutrition products. RB is investing £2bn to get back on track after a couple of difficult years.
With Reckitt's OTC sales falling 3% in 2020, the firm has committed to doubling its R&D spend in search of breakthrough product innovations.