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Procter & Gamble and Teva reported plans to establish a joint venture

November 3, 2011 Procter & Gamble Company and Teva Pharmaceutical Industries reported the signing of a cooperation agreement, under which is a joint venture under the name PGT Healthcare. The new company, headquartered in Geneva (Switzerland), will produce OTC medicines. It is planned that the production of PGT Healthcare will be marketed worldwide, except USA. In addition, Procter & Gamble and Teva within the framework of a partnership agreement to jointly develop new products to promote in the pharmaceutical market in the U.S.

It is expected that revenue from sales of  PGT Healthcare will be 1.3 billion. U.S. double-digit growth rate in the coming years. Thus, in the long term (to 2020) the company’s sales in monetary terms, could reach $ 4 billion. It should be noted that sales of OTC segment of the world pharmaceutical market is estimated at 200 billion dollars.

 Under the agreement, Procter & Gamble will be responsible for branding, design and merchandising products, and provide rights to manufacture and marketing of its best-selling products, including medication Pepto-Bismol (bismuth subsalitsitat) and brands of Vicks, Metamucil, and Teva in turn, will give similar rights to drugs included in the product portfolio of ratiopharm. Procter & Gamble will ensure the presence of PGT Healthcare in the U.S., Canada, Brazil, Mexico, India, Indonesia, Australia, Italy, France and Great Britain, and Teva – in Russia, Poland, Ukraine, Germany, Japan, Venezuela, Chile , Peru, and Israel, the Scandinavian countries. In addition, it is planned that the new company will be able to enter the pharmaceutical market in China, not previously covered by the Procter & Gamble and Teva. The intention is to move relative to the company PGT Healthcare on the world market of some promising products within the product portfolio Teva.

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