Teva Pharmaceuticals has agreed with Procter & Gamble to terminate the PGT Healthcare partnership that they founded in 2011 to market OTC medicines.
PGT Healthcare had grown into a significant presence in over 50 countries, mainly in Europe and Asia, using market-leading brands such as Vick’s and Ratiopharm. But after nearly seven years of working together, the companies concluded that their priorities and strategies were no longer closely aligned.
Each company will take back its own brand and product assets to re-establish independent OTC businesses.
The separation is planned to take effect July 1, 2018.
Read the press release