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Earlier in the day, P&G agreed to buy the consumer health
business of Merck KGaA <MRCG.DE> for about 3.4 billion euros
($4.2 billion), giving it vitamin brands such as Seven Seas and
greater exposure to Latin American and Asian markets.
P&G also announced the termination of its PGT Healthcare joint
venture with Teva Pharmaceutical Industries <TEVA.N>, saying its
priorities and strategies were no longer aligned with Teva's.
The company said it is maintaining its full-year organic sales
guidance in the range of two to three percent for fiscal 2018,
but expects it to be at the low end of the range.
Overall, the company said it expects sales to rise about three
percent, including acquisitions and divestitures.
Net income attributable to the company fell to $2.51 billion, or
95 cents per share, in the third quarter ended March 31,
compared with $2.52 billion, or 93 cents per share, a year
earlier.
Net sales for the world's largest consumer products maker by
market value rose 4.3 percent to $16.28 billion, compared to
analysts' estimate of $16.21 billion, according to Thomson
Reuters I/B/E/S.
Excluding items, the company earned $1 per share, beating
analysts' average estimate of 98 cents per share, according to
Thomson Reuters I/B/E/S.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Supriya
Kurane)
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