Inverness Medical Innovations and Procter & Gamble to form consumer diagnostics joint venture:
This article was originally published in Clinica
Inverness Medical Innovations (IMI), the Waltham, Massachusetts- based immunodiagnostics company, and global consumer healthcare group Procter & Gamble (P&G) are to pool their expertise and form a joint venture focused on developing and marketing consumer diagnostic products. The two companies have signed a non-binding letter of intent to collaborate on this venture and are currently working towards reaching a definitive agreement, which will take "several months", said IMI. The company said the pact will not affect its rights to its cardiology diagnostic products and non-consumer diagnostic business.