Teva Pharmaceutical Industries Limited (TEVA), Procter & Gamble (PG) to Build Indian Plant for $89 Million
7/27/2012 7:44:22 AM
PGT Healthcare, the joint venture of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and Procter & Gamble Co. (NYSE: PG), will set up a plant in India to produce consumer health and over-the-counter products, at an investment of 5 billion rupees ($89 million). The plant will produce for both the Indian domestic market and for export.
The plant in Sanand, Gujarat, will produce inhalers, throat drops and cough syrups under P&G's Vicks brand. PGT Healthcare's initial investment will be 2.5 billion rupees.