Abstract
Ten years ago, at the beginning of the ‘prescription-only (Rx) to over-the counter (OTC) switch revolution'. Nurofen (ibuprofen) had switched in the UK and Advil/Nuprinregd had moved OTC in America, along with 0.5 per cent hydrocortisone (Cortaidregd) and several cold remedies. The outlook for additional switches and the OTC market generally was bullish. Most experts predicted that the OTC market would explode, led by switches and the coming harmonisation of EU regulatory mechanisms beginning in 1992.
If you had to pick an icon that would be symbolic of the growth curves most OTC business managers had in mind, you might choose the hockey stick. So what happened? There has been an enormous increase in consumer interest in alternative, prevention-oriented self-treatment but the growth in non-prescription pharmaceutical sales has been much more modest. So where do we go from here?
This paper explores:
current business trends in the global market for over-the-counter brands a comparison of Rx to OTC brand switches in the US versus the rest of the world the key success factors for switches the emerging OTC business strategies of the major sector players the outlook for OTC brand growth and Rx to switches over the next 5–10 years a summary of the implications from a strategic perspective.
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