Globes: Teva, P&G to build Indian plant for $89m
26 July 12 11:14–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.
State of Gujarat’s Commissioner for Food and Drug Control Administration H G Kohsia said, “A four-member delegation led by Teva VP corporate quality Karin Baer met us and sought details of setting up a facility to manufacture OTC products like cough syrups, inhalers, among others.” The delegation’s other members were Teva Assistant VP Rajiv Palliwal, Senior Director OTC Operations Haresh Gill, and Seema Sundereshan, a senior scientist from P&G…Read More>>
