Teva Pharmaceutical Industries and Procter & Gamble (P&G) have joined forces to create an OTC joint venture outside of North America as part of a novel partnership to capture a larger share of the OTC healthcare market, which is currently worth almost US$200 B. The joint venture, which will be 51% owned by P&G and 49% owned by Teva, brings together the complementary capabilities of the two companies. Teva will gain access to P&G's leading OTC brands and marketing expertise while P&G will benefit from Teva’s strong global presence, pharmacy channel coverage and manufacturing and regulatory competences.