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May 14, 2002

Taisho Takes Over
P&G’s Vicks Medicated Drops Business

Taisho Pharmaceutical Co., Ltd. (President: Akira Uehara), and the Procter & Gamble Company (P&G, Headquarters: United States) signed an agreement today that transferred P&G’s business for Vicks Medicated Drops, a sore throat remedy in lozenge form, to Taisho, and made Taisho the exclusive sales agent of cold remedy Vicks VapoRub.

Outline of Agreement

(1) Taisho will acquire a license for an indefinite period for P&G’s Vicks Medicated Drops. The amount of the purchase has not yet been disclosed. Manufacture of the product will be consigned to P&G for the foreseeable future.
(2) Taisho will carry out sales of Vicks VapoRub for P&G as the exclusive sales agent in Japan.

By augmenting its lineup with the Vicks brand, which has a history of nearly 50 years at the top position in the Japanese OTC market, Taisho expects to bolster its Self-Medication Operation Group. Taisho has set a fiscal 2003 sales target of ¥2.0 billion for the Vicks brand.

This deal is limited to Japan, and P&G will continue to conduct its $1.0 billion a year Vicks business, the second largest in the global OTC drug market.

Daiwa Securities SMBC Co. Ltd. served as the adviser for the purchase agreement.

Product Information

[Vicks Medicated Drops]
Effect This bactericidal sore throat remedy in lozenge form helps relieve throat pain, hoarseness, sore throat, and other symptoms associated with a sore throat.
Flavors Regular, Lemon, Orange, and Cherry
Packaging 20 lozenges (4 packs of 5 lozenges) per package
1931: Launched in the United States under the name Cough Drop
1953: Introduced to Japan by HANKYU KYOEI BUSSAN CO., LTD.
1994: Name changed to Vicks Medicated Drops

[Vicks VapoRub]
Effect Cold remedy for external use that helps relieve the coughing and stuffed nose associated with a cold to make breathing easier
Packaging 50g Jar, 100g Jar, 80g tube
1912: Launched in the United Sates as VapoRub
1953: Introduced to Japan by HANKYU KYOEI BUSSAN CO., LTD.