Procter & Gamble
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Latest From Procter & Gamble
Fabric & Home Care sales jumped 11% for the quarter, and Baby, Feminine & Family Care, 3%, reflecting consumer priorities during the COVID-19 pandemic. Beauty, impacted by travel retail’s nosedive, and Grooming, something consumers are doing considerably less of at home, were less impressive, but the units still grew in fiscal 2020 overall.
In separate assessments, US industry self-regulation group says SmileDirectClub and UK advertising regulator finds HiSmile didn’t have adequate supporting evidence for claims about speed of teeth whitening.
Second quarter performance was better than expected, but commercial weaknesses show the need for R&D wins and M&A deals as Tecfidera generics and aducanumab uncertainty weigh on the company.
The decision to close Clarisonic follows a €234m impairment charge recorded in 2016 and comes as L’Oreal faces tough strategic decisions in a global economy ravaged by the COVID-19 crisis.
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