Teva And Procter & Gamble Create Over the Counter Drug Marketing and Distribution Business-Do The Consumer A Favor and Start Bar
Posted Mar 29 2011 2:48pm
Ok here I go again and if you are a regular reader we all know that the FDA and drug companies as well as device companies absolutely do nothing for helping the consumer find recalls. I had a long standing poll here and guess what, consumers, pharmacists and more want the ability to scan a product with a smartphone and find recalls. Look at the huge Triad mess for one. In this recall we really found out how many of the drug and device companies they private label manufacture for. The FDA pages will tell you the story there.
Perhaps this might get some attention here as J and J has all the information and has done nothing and we all know about their numerous recalls. As a matter of fact the FDA wants to know what consumers and maybe bloggers in my case communicate, well I blogged it here:
Perhaps Teva and Proctor and Gamble will do a better job? It would be nice. Yeas ago when in the logistics business when the J and J OTC was owned by Pfizer, (the old Warner Lambert business)I used to do a lot of business with them and it’s not a difficult commodity to handle for distribution purposes, but today, you need to be ready to help consumers with recalls as the number grows every day! It would be nice to see companies offer some help and value for consumers and shoot it would even make compliance easier with a synchronized data base at the FDA, luddites can’t see this yet though.
For the companies having bar codes is huge too when used with a heat map from Bing as they can filed the recalled product and reach the consumer quickly too if they have the product in their possession. Teva being the aggressive innovator they are, I would expect action from their end faster than I think P and G would respond though. BD
Here’s more folks in the “like” neighborhood of this idea too.
How about this, a patent on some of this technology too, so let’s get it out there and help the consumer since this is all going to be built and orchestrated. BD
The joint venture unveiled on Thursday includes the companies' over-the-counter businesses in all markets outside North America, which combined, generated sales of more than $1 billion in 2010.
The deal gives P&G access to Teva's extensive product portfolio and gives Teva the benefit of P&G's marketing expertise. Teva has a strong presence selling drugs to pharmacies, while P&G has a strong presence in supermarkets and other retail outlets.
"Teva's goal is to use Procter's brand to increase Teva's revenue," said Gilad Alper, an analyst at Meitav Investment House. "Procter's interest is, they need Teva's manufacturing capabilities, Teva's products and Teva's international infrastructure. It's a smart way to use each other's strengths."
Teva's shares were up 2.8 percent at $50.51 on Thursday afternoon, while P&G stock was up 0.1 percent at $61.00