PGT Healthcare LLP—a joint venture between Procter & Gamble and Teva Pharmaceutical Industries Ltd.—will partner with Australia’s Swisse Wellness to begin expanding its range of more than 100 vitamins, minerals and supplements (VMS) globally over the next few years.
Swisse Wellness is the fastest growing OTC (over-the-counter) company in the world in the last five years and has led the VMS market in Australia to such an extent that the country is now the best performing in the VMS category outside of the emerging markets.
Procter & Gamble and Teva Pharmaceuticals formed the PGT Healthcare joint venture in November 2011. PGT Healthcare manufactures and markets more than 200 consumer healthcare brands in more than 70 countries around the world.
The new licensing deal announced today will integrate both companies’ core strengths and capabilities to enable the rapid expansion of the Swisse brand of premium quality VMS products into new countries, creating a new global ‘megabrand’ together.
The deal will see the Swisse Wellness vitamins and supplements range rolled out into parts of Europe and Asia in the next couple of years, with additional launches planned in more than 20 countries around the globe by the end of the decade. 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.
The Procter & Gamble Company and Teva Pharmaceutical Industries joint venture incorporated the two companies’ OTC businesses outside of North America and benefits from both companies’ core strengths and capabilities to facilitate rapid expansion into new countries and categories. PGT Healthcare manufactures and markets more than 200 consumer healthcare brands in more than 70 countries around the world. Its portfolio includes Vicks cough & cold brand, Ratiopharm, Vibovit, Ambrobene, Hylak, Novo-Passit, Gastal and Metamucil.
According to company officials, PGT Healthcare is on track to triple its global sales to deliver more than $4 billion in annual global sales by 2020. The joint venture is headquartered in Geneva, Switzerland and is led by a management team comprised of experienced senior leaders from both companies, including CEO Briain de Buitleir from P&G, and COO Eli Shani from Teva.