Ahmedabad: Israel-based Teva Pharmaceuticals, an $18 billion generic drug maker will set up world's largest OTC medicine facility in Gujarat in collaboration with Procter & Gamble. On Tuesday, the company had ground-breaking ceremony for its multi-product facility at Sanand, near Ahmedabad.
Teva Global Operations, Executive Vice President, Strategy and Operation, Eran Katz, said "The multipurpose plant in India will support the growing demand for our non-prescription health care products across Asia. The Sanand facility will be a critical component of PGT Healthcare, Teva's international partnership and joint venture with Procter & Gamble." Teva Pharm India Pvt. Ltd expects completion of construction of the plant in two years.
The facility would be focused on Over-the-counter (OTC) product manufacturing and will initially cater domestic and Asia Pacific markets, according to the company. This will include liquid, oral solid dosage and inhaler production including P&G's current Vicks range of cough & cold medicines and throat drops in India, along with potentially other over-the-counter products for India and other markets.
The new plant will complement the existing network of Vicks contract manufacturers in India as the company plans to continue working with their current contract manufacturers even after this plant is operational, said the company.
The modular design of the plant will enable Teva to further expand the plant as demand for consumer health care products continues to grow across the region and the globle.
In November 2011, P&G and Teva Pharma entered into a joint venture in consumer healthcare by setting up PGT Healthcare headquartered in Geneva, Switzerland. This business model brings together each company's complementary capabilities and existing OTC portfolios. While Teva Pharma is world's largest generic drug maker, P&G is one of the largest players in FMCG globally.
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