Procter & Gamble seeks approval of Teva OTC takeover

EC competition department will decide this month whether to clear acquisition

The European Commission competition department will decide this month (November) whether to clear Procter & Gamble’s acquisition of a second tranche of the over-the-counter (OTC) pharmaceutical business from Israel’s Teva Pharmaceuticals.

Procter & Gamble bought OTC services from Teva last year and now wants to buy more of the business, which Teva acquired from Cephalon in 2011.

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