P&G te vas con TEVA...

New Joint Venture, to be named "PGT Healthcare," has the potential to reach double-digit sales growth and $4 billion in sales towards end- of- decade

CINCINNATI & JERUSALEM--(BUSINESS WIRE)--November 03, 2011-- 

The Procter & Gamble Company and Teva Pharmaceutical Industries Ltd. today announced the creation of a new partnership and joint venture (JV) in consumer health care. The JV, to be named PGT Healthcare, will be headquartered in Geneva, Switzerland and will operate in essentially all markets outside of North America. The partnership between P&G and Teva will also develop new brands for the North American market.

PGT Healthcare, a new model in the industry, will focus on best-in-class development and state-of-the-art commercialization of branded OTC medicines. The JV will bring together each company's complementary capabilities and existing over-the-counter (OTC) medicines. As a result, PGT Healthcare expects to accelerate growth for its parent companies and compete for leadership in the fast-growing, $200 billion consumer healthcare industry. The partnership will start from a solid base of approximately $1.3 billion in annual sales with the potential to grow to $4 billion in annual sales towards the end of the decade.

"This unique and transformational partnership creates one of the broadest and deepest OTC product portfolios and geographic footprints in the industry," said Shlomo Yanai, Teva's President and Chief Executive Officer. "Each company's leading brands will experience tremendous growth by combining our strengths. We will be better together."

Combined Capabilities for Faster Growth

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