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P&G earnings

This article was originally published in The Tan Sheet

Executive Summary

Volume for Prilosec OTC (omeprazole magnesium) in the first quarter of 2006 more than doubled over the prior-year period, "driven largely by customer pre-buying ahead of the 10% price increase in mid-September and a base period suppressed by shipments allocation," the Cincinnati-based firm states during its first-quarter earnings call Nov. 1. The heartburn treatment continues to garner U.S. value share, which has grown by more than five points since 2005 to 36%, Treasurer John Goodwin stated. In oral care, Crest Pro-Health rinse has earned a 10% share of the mouthwash segment in the six months since its debut, Goodwin added. Overall, the healthcare business unit had "very strong top and bottom line results" during the quarter (ended Sept. 30), with sales increasing 13% to $2.1 bil. Net income grew 37% to $336 mil...

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