Trends That Affected OTC Sales In 2010
This article was originally published in The Tan Sheet
The global OTC industry fell back in line with the world gross domestic product in 2010, after significantly outpacing it in 2009. The industry grew 4% in 2010, 1.2 percentage points behind the previous year and 0.2 percentage points below the broader GDP, according to Nicholas Hall, CEO of Nicholas Hall & Company.
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Recalled OTC drugs took a $900 million bite out of Johnson & Johnson's fiscal 2010 sales, including $300 million in the fourth quarter, contributing to what the company and analysts labeled disappointing earnings.
J&J reports worldwide consumer sales dipped 0.6% to $3.6 billion despite retailers buying more upper respiratory and analgesic products to prepare for the cough and cold season. But in key OTC categories the firm is regaining market share it lost when its iconic brands were temporarily not available.