Procter and Gamble advances business model
9 May 2007 00:00 in Pharmaceutical Company Restructures
Procter & Gamble Pharmaceuticals, a Procter & Gamble company, has announced that it is to present its business model to the 2007 Biotechnology Industry Organisation international convention taking place this week in Boston.
At the biotechnology event, the company will explain its novel methods for procuring vital partnerships with other firms.
Procter & Gamble's "connect and develop" model sees the firm either acquire, collaborate, or exclusively licence all its innovative drug candidates from its partners in the pharmaceutical or biotechnology industry.
Mark Collar, president of global pharmaceuticals and personal health at Procter & Gamble, said: "Through our alliance building, we want to expand our leadership role by bringing new therapies to market in the women's health, gastrointestinal and musculoskeletal therapeutic areas."
He added that the firm is seeking partnership agreements that will act as a counterpart to its business strengths, with improved outcomes for patients and facilitating self-management of their conditions.
The company noted that it was recognised by the Association of Strategic Alliance Professionals with the Alliance Programme Excellence Award for 2007.
In January 2007, Procter & Gamble announced the acquisition of HDS Cosmetics Lab for an undisclosed fee, with the firm purchasing the skincare company from North Castle Partners.
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Story collated for Zenopa by the Axonn News Agency