P&G and Teva Pharmaceutical Industries Announce Consumer Health Care Partnership

Thursday, March 24, 2011 10:07 pm GMT

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We are proud to announce that P&G and Teva Pharmaceutical Industries have signed a master agreement to form a major partnership in consumer health care. The partnership will include a joint venture that combines both companies’ over-the-counter (OTC) businesses in all markets outside of North America.

This innovative deal represents a major step forward in the development of our consumer health care business. In fact, it marks our biggest move in health care since our acquisition of Richardson-Vicks 25 years ago.

This partnership will combine our core strengths – especially in the area of brand building, consumer-led innovation and go-to-market retail capability – with Teva’s world-class capabilities in health care – especially in R&D, regulatory and product supply.

This partnership will also give us access to Teva’s 1,500 existing active ingredients to help us grow our current respiratory and digestive wellness businesses and build entirely new global health care brands.

Consistent with our Purpose-inspired Growth Strategy, this partnership will enable P&G to serve more consumers in more parts of the world more completely by expanding our global footprint into new countries, new categories and new tiers.

For more information on the announcement, please read our news release at: http://www.pginvestor.com/phoenix.zhtml?c=104574&p=irol-newsArticle&ID=1542509&highlight=.