Nothing is set in stone with P&G and P&G have proven time and time again that they will re-assess the terms of any partner agreement no matter what the size of the partner or who that partner is. There were many, many optimistic & speculative posts on Hotcopper over the last 7 years, centred around PGT Healthcare, Swiss Wellness VMS (Vitamins, Minerals & Supplements), BodyGuard and OTC (Over the Counter) Markets.
Do we all remember PGT Healthcare? It was a partnership between P&G and Teva Pharmaceuticals back in 2011. Here's the timeline:
November 3, 2011
'The Procter & Gamble Company (NYSE: PG) and Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) today announced the creation of a new partnership and joint venture (JV) in consumer health care. The JV, to be named PGT Healthcare, will be headquartered in Geneva, Switzerland and will operate in essentially all markets outside of North America. The partnership between P&G and Teva will also develop new brands for the North American market.' http://news.pg.com/press-release/pg...-company-and-teva-pharmaceutical-industries-a
November 18, 2013
'PGT Healthcare LLP, the international joint venture between The Procter & Gamble Company and Teva Pharmaceutical Industries Ltd., and Swisse Wellness, Australia’s market-leading wellness brand, today announced a collaboration that will be transformational for both companies. PGT Healthcare will partner with Swisse Wellness to begin expanding its range of more than 100 vitamins, minerals and supplements (VMS) globally over the next few years.' http://news.pg.com/press-release/pg...care-and-swisse-wellness-join-forces-globally
November 13, 2017
'Swisse Wellness and PGT Healthcare today announced an agreement that will conclude their partnership and return ownership and management of all territories to the Swisse brand globally. The deal will see Swisse buy-back the distribution rights entitled to PGT under the collaboration agreement signed in 2013, including all options on the China market.' https://swisse.com/getattachment/Ou...-reach-agreement-for-PGT-territories.pdf.aspx
And here is the concerning bit from P&G, where they announce a new deal with Merck KGaA and then back-door the PGT Healthcare termination in this announcement:
April 19, 2018
'The acquisition of the Consumer Health business of Merck KGaA, Darmstadt, Germany, replaces and improves upon the highly successful PGT Healthcare joint venture P&G had with Teva Pharmaceutical Industries (NYSE: TEVA), which will be terminated July 1, 2018, pending regulatory approvals.
The PGT Healthcare joint venture delivered disproportionate top- and bottom-line growth and established a major presence in over 50 countries since its formation. However, following a recent review, Teva and P&G concluded that priorities and strategies were no longer aligned and agreed to terms where it would be mutually beneficial to terminate the partnership. PGT product assets will return to their respective parent companies to reestablish independent OTC businesses.' http://news.pg.com/press-release/pg-acquires-consumer-health-business-merck-kgaa-darmstadt-germany
One of the questions posed in the last Shareholder Conference call was in relation to a number of partner collaboration that are currently silent and have been for some time. I'm really trying to stay positive here as the share-price continues south, but I really am becoming more and more curious and a little more unsettled as to the 'reality' status of a number of projects including GSK/Stiefel, Nestle/Galderma, L'Oreal, Pfizer, Coty, Advanced Packaging/Voltaren, Novartis, Beiersdorf, Johnson & Johnson, Mentholatum, Unilever, DCE, Accelerators, BodyGuard and Nitto Denko.
Given the status of P&G Revenue received to date, the continuing silence on most other fronts and the lack of verifiable progress, it is no surprise witnessing OBJ's continued spiral downwards. Apart from substantial Revenue and new Partner collaborations, that would still infer years from additional maiden income; I'm running out of ideas as to exactly what will be the turnaround here. A new Chairman although welcomed, I can't see that as even having a major impact. This is not 'negative' talk or posting. This is measured and logical discussion as to how OBJ is going to substantially alter the landscape in which new Investors and Positive sentiment will return. It's a tough discussion to have I know, but let's face it, the Market in general does not seem to agree with any positive sentiment at the moment and even Steve's original investment is currently down over 50% and our new Top 20 Investor is down over 35% in a matter of a couple of months.
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