Reports: P&G, Teva partner on European OTC company called PGT Healthcare, gain EU approval

CINCINNATI — Procter & Gamble and Teva Pharmaceutical on Monday gained European Union approval for a joint venture on the sale of nonprescription medicines to be called PGT Healthcare, according to published reports. 

According to the reports, the joint venture didn't raise competition concerns. P&G will have a 51% stake in the venture.