Pfizer and GlaxoSmithKline have closed their joint venture to combine their respective consumer healthcare businesses and form the world’s largest over-the-counter business. This new venture will operate as the new GSK Consumer Healthcare.
New data from the Consumer Healthcare Products Association and IRI is highlighting the ripple effect that a consumer buying an OTC product can have on the American healthcare system — namely, some $146 billion in savings.
Alongside it shedding its pharmaceutical business, Perrigo said it had entered an exclusive agreement with a subsidiary of Kenilworth, N.J.-based Merck to develop an over-the-counter formulation of Merck’s Nasonex nasal spray
The OTC e-commerce channel is the 900-lb. gorilla in the traditional domestic and global retail worlds. A U.S. brand owner is now confronted with a global pricing discipline challenge. The speed and ubiquity of product pricing and information has forced the issue. To paraphrase Hermione in “Harry Potter,” everything has changed.