By Anjuli Davies and Martinne Geller
LONDON, Nov 22 (Reuters) - Reckitt Benckiser Group has hired Morgan Stanley to advise on its options for its shrinking pharmaceuticals unit, according to two sources familiar with the matter.
The British consumer goods company said last month it was examining options for the business, which sells a heroin addiction medicine and could fetch over 2 billion pounds ($3.24 billion) in a sale, according to analysts.
All options -- including selling the business, spinning it off, trading it or keeping it -- are still on the table, said the sources, who declined to be identified as the matter is private.
A spokesman for Reckitt Benckiser declined to comment. Morgan Stanley was not immediately available to comment.
Reckitt is shifting its focus toward its higher-growth consumer health business, which includes Durex condoms and Nurofen pain relief tablets. The company also owns Lysol and Dettol disinfectants and Cillit Bang cleaners.
Analysts' valuations for the pharmaceuticals business range from about 2 billion pounds to 5.5 billion pounds, as the future sales potential of the drug, called Suboxone, remains uncertain.
Reckitt sells Suboxone as a film that dissolves in the mouth to treat addiction to opioids like heroin, but its sales are falling amid competition from cheaper, generic versions of the medicine in pill form.
The United States accounts for more than three quarters of Suboxone's sales, which fell 14 percent to 191 million pounds in the third quarter.
Morgan Stanley advised Reckitt on its $482 million deal in February to sell some Bristol-Myers Squibb products in Latin America and its $1.4 billion deal last November to buy vitamin maker Schiff Nutrition.