Jones Day Reps P&G in Joint Venture With Teva

Law360, New York (March 24, 2011, 12:21 PM EDT) -- The Procter & Gamble Co. and Teva Pharmaceutical Industries Ltd. said Thursday they had inked a deal creating a joint venture to manufacture and distribute over-the-counter medications.

Financial details of the transaction were not disclosed, but the companies said the partnership would combine their existing over-the-counter drug businesses in all markets outside of North America. Those markets generated sales of more than $1 billion in 2010, the firms said.

The deal is expected to close in the fall, pending regulatory approvals.

Under the agreement, Jerusalem-based Teva...
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