BY THOMAS GRYTA
Procter & Gamble Co. and Teva Pharmaceutical Industries Ltd. plan to form a joint venture that combines their over-the-counter drug businesses outside North America, as both companies seek to expand their consumer health-care businesses.
The venture merges P&G brands like Vicks, Metamucil and Pepto-Bismol, with Teva’s over-the-counter pain medicines, cold/cough drugs and digestive treatments. Sales of those products totaled more than $1 billion in the markets included in the joint venture, and the two companies said they envision sales of up to $4 billion by the mid to later part of the decade.
The plan also brings together P&G’s brand …