5 March 2019 - Deborah Wilkes
Procter & Gamble (P&G) is the winner of the 2019 OTCToolbox Consumer Healthcare Industry (CHi) Award for Business Development Team of the Year.
2018 was a challenging year for P&G’s consumer healthcare business. When it became clear that the PGT Healthcare joint venture with Israel’s Teva Pharmaceutical had come to the end of the road, P&G snapped up the Consumer Health business of Germany’s Merck KGaA.
Commenting on the deal, P&G said Merck Consumer Health would “replace and improve upon the highly-successful PGT Healthcare joint venture” with Teva.
Secured a meaningful future
Mathias Käsebier, senior director at Bannert Manlik Consultants and a member of the CHi judging panel, commented: “The P&G team did a fantastic job – given the circumstances – to secure a meaningful future for the company in OTC.”
Not only did the acquisition of Merck Consumer Health come at the right time, added Käsebier, “but it will transform P&G's consumer health business.”
Another judge pointed out the deal had transformed P&G into a “full global player with favourable deal terms”. This judge noted that Merck Consumer Health had filled P&G’s gaps in Latin America and Asia-Pacific, and was a great strategic fit in the vitamins, minerals and supplements (VMS) and decongestants categories.
The OTCToolbox CHi Awards honour the best in business development and innovation around the world.
Winners of the CHi Awards were decided by a panel of highly-experienced executives in the consumer healthcare field. The panel for the three CHi Awards included representatives from Bannert Manlik Consultants, Bunniss Associates, Ceuta International, Diapharm, Euromonitor International, Healthy Brands, Innovation Fixer, IQVIA, Plexus Ventures, Present Value and Roland Berger, as well as OTCToolbox and the PLG.
CLICK HERE TO DOWNLOAD THE WINNERS BOOK FOR THE CHI AWARDS.
Business Development Team of the Year was one of three CHi Awards presented during the 4th OTCToolbox/PLG OTC Conference and Networking Event held in London, UK, on 28 February and 1 March 2019. The other two CHi Awards were Transaction of the Year (click here to read the News story) and Innovation of the Year (click here to read the News story).
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