Nicole Kidman in Swisse Wellness vitamins ad
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Exactly two years ago Teva Pharmaceuticals entered into a joint venture with Proctor and Gamble to develop and market over the counter pharmaceuticals (OTC) and other non-prescription health care products. It was called PGT Healthcare LLP (PGT), and was set up to operate initially outside of North America, though with a plan to bring any new products it developed there as well.
PGT has its own management, based in Geneva, and it brought together each company’s complementary capabilities in this area of business and their existing over-the-counter (OTC) medicines. On day one the JV started from a solid base of approximately $1.3 billion in existing annual sales, with a corporate target to reach $4 billion in annual sales within ten years.
Yesterday, PGT announced a collaboration with Swisse Wellness a leading Australian maker of vitamins, minerals and other wellness products. PGT will partner with Suisse Wellness to market worldwide the Australian company’s range of over 100 vitamins, minerals and supplements, or VMS in the jargon of the acronym obsessed wellness business.
Swisse Wellness has become one of the fastest growing OTC companies in the world in the last few years, and has led the VMS market in Australia by a country mile.
PGT already manufactures and markets more than 200 consumer healthcare brands in more than 70 countries around the world. The new licensing deal announced today will integrate both companies’ core strengths and capabilities and it has as its eventual goal the creation of a global ‘megabrand’ for the newly combined range of wellness products.
PGT brings deep consumer understanding, unrivalled marketing scale advantages, and global regulatory and go-to-market expertise to the table. Suisse Wellness has tremendous specialized VMS product development expertise, a portfolio of more than 100 premium products, and its own proven marketing model. Together the companies believe they have found a winning combination.
Presently Swisse Wellness products are currently sold in Australia, New Zealand and the United States. The new collaboration with PGT envisages extending this globally to new markets in Europe, Asia and Latin America as well. The milestone deal is also one of the biggest licensing deals involving an Australian company for many years.
“We are delighted to be partnering with Swisse Wellness, ” said PGT Chief Executive Officer Briain de Buitleir. “Their track record of growth in Australia is truly exceptional. We look forward to working closely with them to replicate this success around the globe, ”
Swisse Wellness Chief Executive Officer Radek Sali is likewise delighted with the new agreement: “I would like to thank our friends at PGT Healthcare as we embark on an amazing journey together. They are the ideal partners to expand Swisse Wellness around the world. They have deep understanding of the world’s diverse consumers, impressive go-to-market capabilities and they share our values of improving the health and wellness outcomes of our customers.”
The deal is also a feather in the cap of the Premier of the Australian state of Victoria where Suisse Wellness is based. The Hon Dr Denis Napthine, said in Melbourne the announcement was another example of a great Victorian business demonstrating its global capabilities.
“This represents a vote of confidence in the talent and expertise Victoria brings to the table, and will generate new jobs and investment in the State.” he said.
About PGT Healthcare
Procter & Gamble Company and Teva Pharmaceutical Industries Ltd. Formed their PGT joint venture in November 2011. The joint venture incorporated the two companies’ existing OTC businesses outside of North America.
PGT manufactures and markets more than 200 consumer healthcare brands in more than 70 countries around the world. Its portfolio includes Vicks, the world’s top selling cough & cold brand, Ratiopharm, the top OTC brand in Germany, and other leading brands like Vibovit, Ambrobene, Hylak, Novo-Passit, Gastal, and Metamucil.
The joint venture is headquartered in Geneva, Switzerland and is led by a management team comprised of experienced senior leaders from both companies, including CEO Briain de Buitleir from P&G, and COO Eli Shani from Teva.
About Swisse Wellness
Swisse Wellness was founded by herbalist Kevin Ring in the 1960’s in Melbourne, Australia in the 1960s after a visit to Switzerland inspired him to develop his own range of herbal and vitamin supplements.
The company has since developed gender-specific multivitamins, scientifically validated through clinical research. This led to the Swisse Men’s and Women’s Multivite, now the number one selling multivitamins in Australia.
Swisse works closely with medical health care professionals to ensure the right combination of ingredients for its products to deliver peak performance. Swisse products go through over 300 quality assurance tests during the three main stages of production – including analysis of raw materials, manufacturing and finished product testing.