P&G and Teva Pharmaceuticals join hands to sell over the counter medicines

Both P&G and Teva Pharmaceuticals intend to expand their reach and penetrate developing market, and for this they've partnered to sell over the counter medicines. Their joint venture will include both the companies' over the counter sales in all markets except North America.

The deal will give P&G access to Teva's wide range of over-the-counter drugs, while Teva will benefit from P&G's market presence. The joint venture will be headed by P&G's Tom Finn, and it is expected to add $500 million in over the counter sales to P&G.

The companies are confident that over the counter medicines market, which is $200 billion, will increase with time. Both the companies are planning to turn several prescription drugs into over the counter drugs to increase their joint revenues.

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