Strong demand for infant formula in the U.S. and higher sales of cold and cough medicines boosted Reckitt Benckiser Group PLC in the second quarter, propelling the Enfamil and Mucinex owner to sharply raise its sales guidance for the year.
The London-listed company has been a beneficiary of formula product recalls and a production halt at rival Abbott Laboratories, which makes the Similac brand. Abbott’s problems exacerbated existing shortages related to supply-chain issues from the pandemic, leaving parents searching for alternatives.
