P&G's OTC Market Direction Steered By Consumers' Turn To Self-Care Solutions
Firm scans health care market for OTC drug properties meeting consumers’ growing demand for non-Rx products, says CFO Jon Moeller. He says P&G is well-positioned to "brand-build" acquired assets given its distribution network in oral, personal and feminine care, and its cost-cutting capabilities.
You may also be interested in...
Procter & Gamble beauty sector sales grow 10% in its latest quarter on strength of anti-aging skin care products globally and across price tiers. Firm also announces to purchase First Aid Beauty, further diversifying its skin care portfolio with a lineup of products sold in specialty retail stores and priced between P&G's SK-II and Olay brands.
P&G’s planned acquisition of Merck KGaA’s consumer health care business will grow its consumer health portfolio 50%, expand its OTC drug and supplement business abroad and open up new categories. CEO David Taylor frames the acquisition as another step in the firm's ongoing portfolio shakeup.
OTC drug firms should offer more digital tools that guide consumers in product purchases, says a health care marketing executive. The American Pharmacists Association suggests firms also strengthen outreach with pharmacists.