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Inverness, P&G sign definitive agreement to form consumer diagnostics joint venture

Published in Women's Health Law Weekly, January 28th, 2007

Inverness Medical Innovations, Inc., (IMA) and the Procter & Gamble Co. (PG) (P&G) announced that they have signed a definitive agreement to form a 50/50 joint venture for the development, manufacturing, marketing, and sale of existing and to-be-developed consumer diagnostic products outside of the fields of cardiology and diabetes.

With this agreement, Inverness will be contributing its related consumer diagnostic assets, other than manufacturing and core intellectual property assets, to a new joint venture entity, and P&G will be acquiring its interest in the joint venture in consideration for a cash payment of US$325 million. Inverness' primary role in the...

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