Roche Moves To Increase OTC Stake In USA

7 July 1996

As part of a declared aim to expand its over-the-counter medicines operations, Hoffmann La Roche has agreed to buy Procter & Gamble's stake in US joint venture companies. The terms of the deal are not disclosed, and it is still subject to government approval.

Roche will then fully own the Aleve (naproxen) OTC pain reliever and Femstat 3 (butaconazole nitrate for vaginal yeast infections) brands, which P&G has marketed in the companies' JV. P&G will continue to provide sales and marketing for these brands for up to one year.

P&G's decision is based on the fact that it is more consistent with its globalization strategy since the Roche JV covers only the USA. "We're building our health care business by focusing on the largest global opportunities," said P&G chairman and chief executive John Pepper. He added: "we're doing this by strengthening and expanding our leadership brands, like Crest and Vicks worldwide, and investing in new OTC and prescription brands where recent progress is most encouraging. The excellent return from this sale will help support these growth activities."

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