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Also ceases pharmaceutical R&D
December 10, 2008
By: TOM BRANNA
Editor
Procter & Gamble said Thursday that fiscal second quarter and fiscal 2009 organic sales would fall below its previous estimates due to “reductions in retailer, distributor and consumers’ in-home inventories in both developed and developing markets.” For the fiscal year, P&G said it expects to deliver organic sales growth in the range of 4-6%, consistent with previous guidance. In a related announcement, A.G. Lafley, CEO of P&G, told analysts Thursday mornin...
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