Procter & Gamble and Teva Pharmaceuticals said the two companies would combine their over-the-counter businesses outside of North America.
P&G, maker of Vick's and Pepto-Bismol, says the joint venture will help expand its consumer-health products in the global market, while Teva, the world's largest generic drugmaker, will gain a stronger relationship with pharmacies.
Teva will also supply P&G's North American OTC business.
The Cincinnati Enquirer writes:
The companies said they expect to stimulate faster growth in the nearly $200 billion OTC market as the global population continues to age, consumers increasingly focus on quality of life and wellness, and more consumers personally manage their family's health care choices and rely on trusted brands.