Now more than ever, over-the-counter medications are consumers’ first choice when they suffer from aches and pains, cough and cold, insomnia, or other maladies. Taking health matters into their own hands has long been a consumer trend, and the COVID-19 crisis made it even more difficult or even unappealing to visit a doctor’s office.
While OTC products can help drive retail sales, the category also offers another financial benefit. According to a joint study by IRI and the Consumer Health Products Association in 2019, each dollar spent on OTC medicines saves the U.S. healthcare system approximately $7.20, totaling nearly $146 billion in annual savings. The study also found that nearly 90% of consumers who treat a condition with an OTC medicine would have sought professional medical treatment if OTC options were not available.
Some manufacturers have stood out in their ability to help retailers compete in this complex arena. This month, DSN recognizes some of the innovation leaders in OTC medicines. Here are this year’s Retail Excellence Awards – OTC.
The mission for Quest Products is to give people the power to solve their own healthcare problems. The Pleasant Prairie, Wis.-based company does this by developing its own products and by partnering with inventors and entrepreneurs. Its brands include Alocane burn remedy products, breatheWell Nasal Filter products, Clinere earwax tools, CopperFixx Pain Relief Cream, OraCoat XyliMelts dry mouth products and ProVent Skin Tag Remover.
Much of the growth at Quest, a portfolio company of Promus Equity Partners, has been through acquisitions. In 2019, Quest acquired SunBurnt and First Degree brands of burn and sun recovery products from Welmedix Consumer Healthcare. In 2020, it acquired Summit Pharmaceuticals/Alliance Labs and added the Enemeez and DocuSol brands of bowel care products to its lineup of self-care products.