In this Issue

The future of retail innovation is not just about selling products; it’s about developing new healthcare platforms, uncovering new networks and nurturing a passionate brand community. Retailers and consumer health companies must constantly knit together new assets, addressing the changing needs of today’s consumer. It is created by balancing science, emerging technology and design. Committing to an innovative culture is dangerous because you never know what you will discover, or what the implications will be. The discovery process is core to an emerging healthcare culture.

Futurist/economist Jane Sarason-Kahn

You’re pretty proud of where you went to high school — some would say fanatical. Where did you go, and why does it matter? I graduated from Xavier High School, here, in New York City. We call ourselves “Sons of Xavier,” and for me that always meant more than just words etched on a plaque on a wall.

Generic medications made up 89% of dispensed U.S. prescriptions in 2016, but only 26% of total drug costs. The use of generics brought savings of $253 billion in 2016, bringing the 10-year savings from generics to $1.67 trillion, according to the ninth annual “Generic Access and Savings in the U.S.” report compiled by the QuintilesIMS Institute for the Association for Accessible Medicines (formerly the Generic Pharmaceutical Association).

In newspaper ads placed in selected Congressional districts this August, NACDS is thanking members of the U.S. House of Representatives for co-sponsoring the Pharmacy and Medically Underserved Areas Enhancement Act (H.R. 592/S. 109). NACDS also is urging the members of Congress to work toward ultimate passage and enactment of the legislation.

The average household spends $3,400 on packaged goods, but the average grocery banner only captures as much as 20% of that, according to a recent IRI report. “With the overall market not growing, retailers and manufacturers need to find new sources of growth by capturing a bigger piece of the existing pie,” wrote Web Fletcher, principal at IRI Shopper Analytics and lead author of IRI’s “Delivering Growth Through High-Value Customers” research, which was published in July.

Drug Store News recently spoke with Phillip Dritsas, SVP and general manager, consumer division and specialty markets for Mission Pharmacal, about the opportunities for Dr. Smith’s products in both the baby and adult categories.

DSN: Can you tell us more about trends in both ends of the baby and adult category?

While consumers may be growing more health-conscious with their food choices, it seems there is still room for life’s little indulgences. According to new international research on snacking motivation from Mintel, Americans cited treating themselves as the top reason to snack (50%), and more than one-quarter (28%) agreed that taste is more important than health when choosing a snack.