P&G Toothpaste, Sleep Aid Sales Drive Health Care Unit Gains
This article was originally published in The Tan Sheet
P&G’s U.S. business is the star of the last quarter thanks in part to increases in consumer health categories and top brands in particular. An analyst says the firm appears to be turning a corner after several weak quarters.
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While other national brand names compete in the OTC sleep aid tablet category, P&G’s NyQuil line extension is by far the biggest name among current players in the liquid product category, which has annual growth of nearly 80%.
Pain relief product sales grew 27% and upper respiratory sales 35% for the week ended 7 March as consumers respond to COVID-19, according to Nielsen data noted in a Jefferies report on consumer health purchasing trends. Private label market share is up slightly, while OTC purchases continue primarily in conventional stores.