Reckitt Benckiser plans to spin off its heroin-addiction treatment in the next 12 months as sales slide under pressure from rival copycat versions of the drug.
Sales of Suboxone have slumped and Reckitt has two new pharmaceutical projects that could diversify revenue and boost the unit's market valuation.
The British company put Suboxone under strategic review in October and in April said it was leaning towards spinning off the business rather than a private sale.
Analysts had given a range of valuations for the business due to uncertainty over the longer-term impact of competition from generic versions of Suboxone. Deutsche Bank values it at 2.9 billion pounds ($4.92 billion) including debt. Prior estimates from other analysts have ranged from 2 billion to 5.5 billion pounds.