U.K. Regulator To “Streamline” Switch Approach With Guidance
This article was originally published in The Tan Sheet
U.K.’s health authority issued guidance that industry representatives say will help cut months off the time to reclassify a prescription drug to nonprescription, Pharmacy sale. OTC trade group emphasizes the guideline calls for more engagement before firms submit applications.
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OTC sales growth is stifled by the EU’s “extremely restricted” switch evaluation process, says AESGP Director General Hubertus Cranz. But while prescription revenues shrink as governments tighten budgets, the OTC market is not hampered in this way.
Perrigo is latest consumer health firm to note substantially slower flu rates slammed OTC drug sales during 2020 fourth quarter. Its total cough/cold product sales for the year were off $63m on decreases of $34m in the Americas and $29m in its international markets.
In deal with Altaris Capital, “I don't feel like we got out at any cost,” says Perrigo CEO Murray Kessler. Agreement calls for “a number of mutual long-term relationship components ... including on Rx-to-OTC switches."