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Home Industry News Procter and Gamble and Teva form OTC healthcare alliance

Procter and Gamble and Teva form OTC healthcare alliance

28th March 2011

Procter and Gamble has announced plans to create a new alliance with fellow consumer medicines company Teva in the field of over-the-counter (OTC) products.

The agreement will see Procter and Gamble ally its brand-building and marketing capabilities with Teva's experience in research, development and manufacturing in order to create a new market leader.

It is expected that the collaboration will lead to the creation of new products and expand the global reach of both companies' existing offerings, with the transaction set to close in autumn 2011.

According to the new partners, it will also allow Procter and Gamble and Teva to capitalise upon and further stimulate the growth of the OTC sector, which is being driven by the rising important of health and wellness among global consumers.

Bob McDonald, chairman of the board, president and chief executive officer at Procter and Gamble, said: "Together, we will serve more consumers in more parts of the world more completely, by increasing access to high-quality, affordable over-the-counter medicines."

Teva is currently Europe's largest generics manufacturer, while Procter and Gamble's diverse business interests allow it to reach 4.2 billion global consumers.ADNFCR-8000103-ID-800478015-ADNFCR

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