Teva teams with Australian OTC drugs co

Teva has teamed up with Australian vitamins, minerals, and supplements (VMS) company Swisse Wellness through Teva's joint venture with Procter & Gamble.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has teamed up with Australian vitamins, minerals, and supplements (VMS) company Swisse Wellness Ltd. through Teva's joint venture with The Procter & Gamble Company (NYSE: PG), PGT Healthcare LLP. 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 collaboration will endeavor to replicate the success of Swisse Wellness in Australia to become one of the leading players in the $80 billion global VMS market.

PGT Healthcare manufactures more than 200 consumer healthcare brands in more than 70 countries around the world. Under the licensing deal, the companies will integrate their core strengths and capabilities to enable the rapid expansion of the Swisse brand of premium quality VMS products to new countries, creating a new global ‘megabrand’ together. The collaboration will benefit from PGT Healthcare's consumer understanding, marketing scale, and global regulatory and go to-market expertise with Swisse Wellness's VMS product development expertise, portfolio of more than 100 premium products, and unique marketing model.

Swisse Wellness products are currently available in Australia, New Zealand and the US. The collaboration with PGT Healthcare encompasses all new markets in Europe, Asia and Latin America. Under the agreement, Swisse Wellness products will be launched in parts of Europe and Asia in the next couple of years, with additional launches planned in more than 20 countries worldwide by the end of the decade.

“"We are delighted to be partnering with Swisse Wellness,” said PGT Healthcare CEO Briain de Buitleir. “Their track record of growth in Australia is truly exceptional. We look forward to working closely with them to replicate this success around the globe."

Published by Globes [online], Israel business news - - on November 19, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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