Pharma BD Deal Intelligence

Reckitt Benckiser plc / Boots Healthcare International

2006 · Acquisition/Merger · $3.4B · Complete

CALLED IT — OFF BY 12

Nurofen, Strepsils and Clearasil became durable pillars of Reckitt's Health franchise, though a high-profile Australian mislabeling scandal (2015-16) tarnished the Nurofen brand along the way.

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The coverage arc

Oct 12, 2005 PharmaTimes Bullish

Reckitt outbid GSK and Bayer to win BHI for £1.9B; CEO Bart Becht said the deal would 'substantially strengthen' Reckitt's global position in healthcare and…

Oct 13, 2005 The Grocer Neutral

Reckitt would leverage its distribution network to push Nurofen, Strepsils and Clearasil into new channels and geographies; Boots CEO Richard Baker indicated…

Jan 06, 2006 European Commission (Case COMP/M.4007) Neutral

Commission clearance decision: the operation does not create serious impediments to effective competition within the common market, permitting the Reckitt…

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OTC consumer health (Nurofen, Strepsils, Clearasil); GBP 1.93B

Did it work? Outcome assessment

Nurofen, Strepsils and Clearasil became durable pillars of Reckitt's Health franchise, though a high-profile Australian mislabeling scandal (2015-16) tarnished the Nurofen brand along the way.

Strategic verdict
Achieved Stated Rationale

Key facts

Related deals — scored

DealYearValueOutcome
Reckitt Benckiser plc / Boots Healthcare International (this deal)2006$3.4B82
Reckitt Benckiser plc / Adams Respiratory Therapeutics Inc.2007$2.3B82
Reckitt Benckiser plc / Boots Healthcare International2005$3.4B78
Reckitt Benckiser plc / Schiff Nutrition International, Inc.2012$1.4B67
Eli Lilly and Company / ICOS Corporation2006$2.3B87
Crucell N.V. / Berna Biotech AG2006$450M85
Lonza Group AG / Cambrex Bioproducts and Biopharma businesses2006$460M83

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