BRITAIN'S MOST ADMIRED COMPANIES 2015: HEALTH & HOUSEHOLD
Forex pain and a persistent case of M&A fever
Currency woes caused a headache this year - sector leader RB (formerly known as Reckitt Benckiser) found its 6% net revenue growth for the year to date dented by currency issues. Third-placed AstraZeneca fared no better, with H1 operating profits down 9% to $3.6bn. The M&A epidemic in the sector shows little sign of abating, as British firms attempt to expand into the massive US market. Shire acquired Foresight for $300m and is attempting a $30bn hostile takeover of Baxalta. Hikma Pharmaceuticals bought Roxane for $2.7bn, while
orthopaedics firm Smith & Nephew acquired US robotics firm Blue Belt Technologies for $275m.