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Tuesday, November 19, 2013

Teva-P&G joint venture teams up with Australia's Swisse Wellness, (NYSE: PG)

Israel's Teva Pharmaceutical Industries will join forces with Australian vitamins, minerals, and supplements (VMS) company Swisse Wellness through Teva's joint venture with Procter & Gamble Co, PGT Healthcare. PGT Healthcare will partner with Swisse Wellness to begin expanding its range of more than 100 vitamins, minerals and supplements globally over the next few years, the companies said on Tuesday.The licensing deal will integrate the companies' strengths to enable the rapid expansion of the Swisse brand of VMS products to new countries.The collaboration will benefit from PGT Healthcare's consumer understanding, marketing scale, and global regulatory expertise with Swisse Wellness's VMS product development expertise, portfolio of more than 100 products, and unique marketing model.Swisse Wellness products are available in Australia, New Zealand and the United States. The collaboration with PGT Healthcare encompasses all new markets in Europe, Asia and Latin America.

The Procter & Gamble Company (P&G) is focused on providing consumer packaged goods. Shares of PG remained unchanged at $84.57. In the past year, the shares have traded as low as $66.83 and as high as $84.94. On average, 7672710 shares of PG exchange hands on a given day and today's volume is recorded at 0.