Q&A: Prestige-ous plan

7/16/2012
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Prestige Brands earlier this year completed its acquisition of 17 GlaxoSmithKline brands. Drug Store News sat with Prestige SVP sales and marketing Tim Connors to discuss what’s next.



DSN: What is the next step? 



Tim Connors: Our strategic value creation plan consists of three components: 




  1. Grow our brands organically; 


  2. Acquire [additional] OTC brands; and 


  3. Strategically manage our portfolio. 



That’s our roadmap to becoming a $1 billion OTC company.



DSN: What are some of the synergies that you see coming out of Prestige’s broader portfolio. 



Connors: The real benefit from having an expanded brand portfolio, simply put, [is] the shared knowledge across our brand portfolios in analgesics, gastrointestinal, cough-cold, ear-eye, oral care, sleep aids, dermatology and household. Developing and sharing consumer insights, new product development technologies, class of trade expertise and a deeper knowledge of the consumer are the most important building blocks for our brands long term. 



DSN: Can you provide an example?



Connors: Dramamine. ... We [uncovered] a consumer insight that moms use the [adult] product for their kids. ... So we came out with a new Dramamine for Kids with a lower dose that would be applicable for children under 13 [years of age]. 


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