J&J Shines Spotlight On U.S. OTC Sales Growth
This article was originally published in The Tan Sheet
Domestic OTC sales grow nearly 20% to $644 million as J&J remains on track to return 75% of recalled McNeil products to market. Consumer business head Sandra Peterson says the firm began breaking out OTC sales figures to single out how the business is doing.
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With former MSD hand Sanjiv Navangul as its new India CEO, experts believe J&J will make deeper inroads in the country. The new leader will be expected to make his way through regulatory bottlenecks at home while convincing global leadership to launch new drugs quickly for the Indian market.
The domestic OTC/nutritionals business grew more than 14% in the first quarter on the strength of McNeil products returning to market and a severe cold and flu season. Johnson & Johnson’s consumer performance exceeded some market analyst estimates.
Johnson & Johnson CEO Alex Gorsky says bringing recalled OTCs such as Tylenol and Motrin products back to market is the firm’s “clear number one priority” in the near term. J&J also has a timetable for completing its responsibilities under a consent decree with FDA in place since 2011.