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news.Teva Pharmaceutical Industries and Procter & Gamble (P&G) have signed a master agreement to create a partnership in consumer health care.
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Teva and Procter & Gamble intend to combine their respective market capabilities to accelerate growth of their product portfolio including over-the-counter (OTC) medicines in developed and emerging markets.
Teva will provide access to its portfolio of medicines, global R&D, manufacturing expertise and infrastructure to Procter & Gamble.
Teva will take global responsibility for manufacturing to supply the joint venture markets and Procter & Gamble’s existing North American business.
For Procter & Gamble, the partnership will accelerate global expansion of its flagship OTC brands such as Vicks, Metamucil and Pepto-Bismol.
The transaction is expected to close in the fall of 2011 subject to receipt of required regulatory approvals.