In the OTC market, where year-over-year growth remains low to flat, more brands are embracing the importance of digital marketing to help drive stronger gains. For smaller brands seeking to punch above their weight class, digital marketing represents a great equalizer. It’s a more efficient strategy to reach a greater swath of target demographics, and when done well, the digital marketing can take on a life of its own by going viral. The savviest of marketers, though, spend heavily on digital and then challenge purveyors of traditional marketing outreach to match both the scope and price savings associated with keyword buys, social media brand building, and blogging community connections.Continue reading
With the recent OTC industry consolidation and mergers, many seasoned executives have left large OTC companies and moved on to smaller, independent companies where their past experience brings success in a nimbler environment, focused on specific brands and categories. Based on primary research for our soon-to-be published report, OTC Indies: U.S. Analysis of Independent OTC Companies, there are several examples of seasoned OTC executives driving growth at small, independent companies.Continue reading
With the publication of FDA’s NSURE (Nonprescription Safe Use Regulatory Extension) in February 2012, the pharmaceutical industry has been buzzing with potential for new switches, using unique approaches and technology to support the approval of new switches and safe use of consumer OTC medications.
“There is excitement and new Rx-to-OTC switch possibilities being evaluated in the United States like we have not seen in years,” says Laura Mahecha, Industry Manager, Healthcare. “Kline has been analyzing and forecasting switches for decades. Our most recent research, Rx-to-OTC Switch Pipelines USA: Competitive Assessment, has shown that we are at a crossroads where the industry is cautiously optimistic that new switches with real commercial potential will become a reality,” she adds.Continue reading
Findings from the recently published Nonprescription Drugs USA study show positive signs of growth for the 2013 U.S. OTC market. Compared to 2012 when the market had flat sales performance, 2013 recorded healthy growth of 3.0% to reach $23.5 billion at the manufacturers’ level. The market is driven by the strong performance of several brands including Novartis’ Excedrin and Johnson & Johnson’s Tylenol and Motrin IB, as well as the continuous strong sales performance coming from nutritional brands, such as Vitafusion (Church & Dwight), Centrum (Pfizer), and Schiff (Reckitt Benckiser).Continue reading
With brick-and-mortar stores and online retailers already heavily competing for the consumer dollar in nearly all segments, OTC drug marketers should also be poised to take advantage of expanding sales and markets through both traditional channels and e-channels. The lines between these channels are blurring as online OTC drug retailers are offering brick-and-mortar store pickup, and mass merchandisers increase their presence online.
For example, Amazon.com now offers consumers the possibility to collect their online purchases at selected Staples and 7-Eleven stores, while mass brick-and-mortar merchandiser Walmart expects to earn $9 billion in 2013 in global sales through its website (Walmart.com), making it the fourth largest online retailer. Continue reading