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Roche acquiring P&G's stake in U.S. OTC joint venture covering Aleve, Femstat 3.

This article was originally published in The Tan Sheet

Executive Summary

ROCHE GAINING SOLE RIGHTS TO OTC ALEVE AND FEMSTAT 3 under an agreement with Procter & Gamble announced by the companies June 27. Roche Holding Ltd. will acquire P&G's 50% interest in the company's U.S. Rx-to-OTC switch joint venture with Syntex. P&G, which has dedicated considerable marketing resources to the two switch products -- over $100 mil. to launch Aleve -- reports that it will see a "$120 mil. after-tax gain" in the fourth quarter as a result of the sale. However, P&G says the sale of its stake in the joint venture will provide a greater return than would continued marketing of the products.
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